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King of the Hill

This is Bitcoin's world for now, and we're all just living in it

Jack Inabinet
Dec 20, 2023 • 1 min read

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Greener Pastures! Crypto markets make modest gains on the day amid a down day for a stock market that continues to inch towards new all-time highs. The total crypto market cap (TOTAL) is green, up 3.7%, but broadly alts are struggling against Bitcoin. What's driving BTC outperformance?

Ethereum continues to demonstrate persistent weakness against Bitcoin, with the ETH/BTC ratio now at risk of breaching the absolute lows it set during the 3AC implosion. Some are attributing Ether weakness towards the Celsius estate’s persistent offloading of ETH.

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Written by Jack Inabinet

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Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial real estate development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.