{"id":327022,"date":"2021-08-18T12:30:00","date_gmt":"2021-08-18T09:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ethereum-liquidity-crisis-could-see-new-eth-all-time-high-before-bitcoin-analyst\/"},"modified":"2021-08-18T12:30:00","modified_gmt":"2021-08-18T09:30:00","slug":"ethereum-liquidity-crisis-could-see-new-eth-all-time-high-before-bitcoin-analyst","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ethereum-liquidity-crisis-could-see-new-eth-all-time-high-before-bitcoin-analyst\/","title":{"rendered":"# Ethereum \u2018liquidity crisis\u2019 could see new ETH all-time high before Bitcoin \u2014 Analyst"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3845ae72d32\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3845ae72d32\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereum-liquidity-crisis-could-see-new-eth-all-time-high-before-bitcoin-analyst\/#Ether_liquidity_shortfall_%E2%80%9Cintensifying%E2%80%9D\" >Ether liquidity shortfall \u201cintensifying\u201d<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereum-liquidity-crisis-could-see-new-eth-all-time-high-before-bitcoin-analyst\/#Battle_of_the_supply_shocks\" >Battle of the supply shocks<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Ethereum \u2018liquidity crisis\u2019 could see new ETH all-time high before Bitcoin \u2014 Analyst <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Ethereum\u2018s native token, Ether (ETH), may beat Bitcoin (BTC) to new all-time highs, fresh analysis reveals.<\/p>\n<p>In a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1427904101237420035\">tweet<\/a> on Wednesday, Ki Young Ju, CEO of on-chain analytics service CryptoQuant, highlighted a \u201csell-side liquidity crisis\u201d that could yet give ETH the edge over BTC. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ether_liquidity_shortfall_%E2%80%9Cintensifying%E2%80%9D\"><\/span>Ether liquidity shortfall \u201cintensifying\u201d<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>With Bitcoin up over 50% versus its lows of $29,000, altcoins have also begun to reawaken, with Ether as no exception.<\/p>\n<p>The largest altcoin has recaptured $3,000, a level that, this week, is now in the process of being retested as support.<\/p>\n<p>Despite attention focusing on Bitcoin reclaiming $50,000, optimism over Ether remains high after its successful London hard fork deployment earlier this month.<\/p>\n<p>Thanks in part to the supply changes pushed through via the hard fork, a liquidity shortfall could ultimately serve to push ETH\/USD to new historic peaks before BTC\/USD manages to do the same.<\/p>\n<p>\u201c$ETH might reach its all-time high earlier than $BTC in the long term,\u201d Ki summarized. <\/p>\n<blockquote><p>\u201cCurrent $ETH price is closer to ATH compared to $BTC. Higher demand, lower supply. $ETH sell-side liquidity crisis still intensifies, while $BTC exchange reserve stopped its downward trend in May.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/ce4b4183-07f1-417c-9b65-3d193f33fa97.png\"><figcaption style=\"text-align: center;\"><em>BTC exchange reserve chart. Source: CryptoQuant<\/em><\/figcaption><\/figure>\n<p>In terms of numbers, Bitcoin exchange reserves have been declining since May, only to return in late July. From a peak of 2.54 million on July 26, BTC reserves then declined to 2.44 million this week.<\/p>\n<p>By contrast, ETH has seen a mostly linear downtrend since late May\u2019s local high of 21.43 million held on exchanges. As of this week, the exchange balance is around 19.25 million.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/5b063cd0-3b7c-4be4-889b-d64042ef819d.png\"><figcaption style=\"text-align: center;\"><em>ETH exchange reserve chart. Source: CryptoQuant<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Battle_of_the_supply_shocks\"><\/span>Battle of the supply shocks<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Ki is not alone in forecasting a more rampant bull charge for Ether compared to Bitcoin. <\/p>\n<p><strong><em>Related:\u00a0Analysts say this key metric suggests an altcoin season is at hand<\/em><\/strong><\/p>\n<p>As Cointelegraph reported, Bloomberg Intelligence has also come out favoring ETH over BTC in a recent report, even forecasting a \u201cflippening\u201d of the largest cryptocurrency. <\/p>\n<p>Meanwhile, data continues to show a supply shock underway for Bitcoin as well \u2014 something that has its own historical precedent for sparking BTC price run-ups.<\/p>\n<p>\u201cIlliquid Supply Shock ratio has been a good leading indicator over the past few months,\u201d analyst William Clemente III\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/WClementeIII\/status\/1427637219913867270\">commented<\/a> on the latest figures from fellow on-chain analytics resource Glassnode. <\/p>\n<blockquote><p>\u201cImpulses in both directions have resulted in price action following. As the metric continues to grind slowly upward, currently at levels prev. 58K BTC, watching for another major impulse.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/36924170-a74a-4ec2-870e-c83847bde4d1.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Bitcoin supply shock annotated chart. Source: William Clemente III\/<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/ethereum-liquidity-crisis-could-see-new-eth-all-time-high-before-bitcoin-analyst\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Ethereum \u2018liquidity crisis\u2019 could see new ETH all-time high before Bitcoin \u2014 Analyst &#8221; Ethereum\u2018s native token, Ether (ETH), may beat Bitcoin (BTC) to new all-time highs, fresh analysis reveals. In a tweet on Wednesday, Ki Young Ju, CEO of on-chain analytics service CryptoQuant, highlighted a \u201csell-side liquidity crisis\u201d that could yet give ETH&#8230;<\/p>\n","protected":false},"author":1,"featured_media":327023,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDgvOWE4Yjk0OTMtMDYyNC00MjE5LThjMjgtNzhhM2I4YTZiYzk5LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,82402,74891,73785],"class_list":["post-327022","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-price","tag-ether-price","tag-ethereum","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/327022","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=327022"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/327022\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/327023"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=327022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=327022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=327022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}