TechFlow news — Cryptocurrency market analysis firm K33 Research said in a report Tuesday that Ethereum is poised to outperform Bitcoin in September and October, benefiting from strong momentum tied to potential exchange-traded fund (ETF) approvals. The U.S. Securities and Exchange Commission (SEC) has a mid-October deadline to approve or reject the first Ethereum ETF, and the agency is widely expected to approve the product.
K33 senior analyst Vetle Lunde explained that this development could drive up Ethereum's price, noting that Bitcoin surged 60% in the three weeks before the launch of the first futures-based ETF two years ago. Lunde stated, "The case for ETH is strong," describing it as a compelling relative buy versus Bitcoin, with the ETH/BTC pair trading near a 2.5-year low, indicating substantial room for relative upside."
