According to CryptoPotato, Glassnode's research found that Bitcoin (BTC) and Ethereum (ETH) have seen an increasing divergence in their performance in the current cycle, which may be attributed to the weaker general trend of capital liquidity, especially compared with previous cycles and historical highs. Before Bitcoin peaked on March 14, Glassnode observed a surge in speculative activity. In its latest on-chain weekly report, Bitcoin capital accumulation by short-term holders reached a near-peak of $240 billion. However, Ethereum has failed to replicate this trend. This shortage of new capital inflows reflects ETH's poor performance compared to BTC. This may be partly due to the attention and accessibility brought by spot Bitcoin ETFs. The market is still looking forward to the SEC's approval decision on a series of Ethereum ETFs, which is expected to be made before the end of May. Therefore, "experienced" Ethereum investors are "sitting quietly and patiently waiting for prices to rise."
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Opinion: The gap in capital liquidity between Bitcoin and Ethereum widens
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