Widely followed economist Alex Kr\u00fcger believes investor interest could soon shift from Bitcoin (BTC<\/a>) to Ethereum (ETH<\/a>).<\/p>\n The analyst tells<\/a> his 162,000 followers on the social media platform X that he believes Bitcoin has topped out and Ethereum will start to outperform Bitcoin (ETH\/BTC).<\/p>\n He says Tuesday\u2019s false report<\/a> that the U.S. Securities and Exchange Commission (SEC) had approved a spot market exchange-traded fund (ETF) appears to have indicated how the crypto market would respond upon approval. Approval came<\/a> on Wednesday.<\/p>\n \u201cFake ETF news showed BTC upside is clearly capped until we see actual ETF inflows. Time for ETH to take over.\u201d <\/em><\/p>\n Bitcoin is trading for $45,783 at time of writing, up slightly in the last 24 hours.<\/p>\n The analyst believes that the ETH\/BTC trading pair has reached a market bottom, after bouncing from the key level of 0.0479. He also suggests that approval of a spot market Ethereum ETF could be next, which might act as a catalyst for an ETH rally.<\/p>\n \u201cMost components for an ETH\/BTC bottom are here: \u00a0<\/em><\/p>\n -narrative shift: from BTC ETF to ETH ETF <\/em><\/p>\n \u2013 upcoming events: EigenLayer airdrop <\/em><\/p>\n \u2013 chart: 50% correction + fakeout of 2022 lows sentiment: extreme pessimism.\u201d<\/em><\/p>\n ETH\/BTC is trading for 0.054 BTC ($2,514) at time of writing.<\/p>\n The analyst\u00a0says<\/a> that longing Bitcoin in the lead-up to the spot market BTC ETF approval turned out to be the winning strategy.<\/p>\n \u201cYou will never have another chance to make money as easily as with the Bitcoin ETF trade. All one had to do is go long and ignore the noise.\u201d<\/em><\/p>\n He suggests<\/a> that the dip in the crypto market earlier this week lessened the impact of a possible sell-the-news event for a spot Bitcoin ETF approval.<\/p>\n However, he notes that Bitcoin futures open interest on the Chicago Mercantile Exchange (CME) has reached a high level that could indicate price volatility is still possible.<\/p>\n \u201cOdds of a BTC sell-the-news on ETF approval OR launch is much lower now after the severe Monday leverage flush-out. The only thing still concerning is the high CME open interest.\u201d<\/em><\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
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