The recent bullish trend in the crypto markets has favored Bitcoin over Ethereum, as evidenced by ETH's underperformance compared to BTC by 22% since the beginning of 2024. Despite the total market capitalization experiencing growth, Ethereum struggles to maintain its value against Bitcoin. This challenge is further compounded by the upcoming SEC decision on VanEck’s Ethereum ETF proposal, causing uncertainty among investors and leading to delayed investment decisions. While there is optimism about Ethereum’s long-term future, a potential rejection by the SEC could result in a short-term market correction. Ethereum needs to demonstrate its capability to keep pace with Bitcoin's performance in this bullish environment.
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