TLDR
- Ether (ETH) has outperformed Bitcoin in the past two weeks with spot ETF inflows reaching $360 million compared to Bitcoin’s $120 million
- ETH broke above $3,200, confirming a trend shift and showing a cleaner technical setup than Bitcoin
- Tom Lee predicts Ethereum will outperform Bitcoin in the near term, with the ETH-BTC ratio expected to break out soon
- Technical analysis suggests ETH could rally 20% to $3,900 if Bitcoin stabilizes above $94,000
- Retail investors accumulated Ether aggressively when prices dipped below $2,700 on November 21
Ether has shown stronger performance than Bitcoin over the past two weeks. The shift in market dynamics has caught the attention of traders and investors.
Spot ETH exchange-traded funds recorded $360 million in net inflows during this period. Bitcoin ETFs only saw $120 million in the same timeframe. This three-to-one ratio signals a change in investor preference toward Ether.
The price action tells a similar story. ETH recently pushed above $3,200, marking a break of structure on the daily chart. This move confirmed a trend shift as buyers flipped previous resistance levels.
Bitcoin still needs a decisive close above $96,000 to confirm its own breakout. This gives Ether a structural advantage in the current market.
Retail investors played a key role in the recent price movement. When ETH dropped below $2,700 on November 21, retail buyers stepped in aggressively. Data from CryptoQuant showed a clear shift in the spot average order size metric during this period.
ETH Technical Setup Shows Strength
The ETH-BTC pair recently broke above a 30-day consolidation zone. The breakout came with a successful retest of the 200-day simple moving average. This trend baseline has held firm since July.
ETH/BTC broke out of 3 month downtrend.
This is ULTRA bullish for Altcoins. pic.twitter.com/Rxzt46LAoA
— Ash Crypto (@AshCrypto) December 4, 2025
Ether’s net unrealized profit/loss currently stands near 0.22. This indicates a balanced market where investors remain in moderate profit. The metric has not fallen into negative territory, showing that holders remain structurally strong.
Tom Lee from Fundstrat Global Advisors shared his outlook at Binance Blockchain Week. He predicted that cryptocurrency prices have “likely bottomed” and forecasted that the ETH-BTC ratio will see a breakout soon.
Price Targets and Market Conditions
If Bitcoin stabilizes above $94,000 and secures a close above $96,000, it would reduce overhead pressure for Ether. In that scenario, Ethereum could retest the $3,650 swing high.
With continued momentum, the next target sits at $3,900. This level represents a 20% gain from current prices around $3,200. External liquidity clusters currently exist at this higher level.
$ETH is rallying towards the $3,300-$3,400 level.
If Ethereum breaks above this zone, expect a bullish continuation towards the $3,800 level.
A rejection from this level could result in a retest of $3,000 zone. pic.twitter.com/19U9L8TQOi
— Ted (@TedPillows) December 4, 2025
The chairman of Bitmine Immersion Technologies also forecast that Bitcoin could reach $300,000 by the end of 2026. He expects 200x adoption for Bitcoin in the coming years.
Bitcoin’s price traded at $93,000 in early morning trade on December 4. Ethereum’s price led gains among major tokens, rising 4.5% in 24 hours to nearly $3,200. The ETH-BTC ratio currently stands at 0.034, up 3.9% in the last 24 hours.
