Ethereum (ETH) has outperformed the broader cryptocurrency market over the past 24 hours, marking a notable 12-day high and sparking mild optimism for a potential rebound. According to crypto analytics platform Santiment, Ethereum has managed to outpace most altcoins to start the week, despite broader market retreat.
📈 Ethereum has shown mild signs of a rebound, currently back up to a market value of $2,745 and outpacing most altcoins to start the week. From a long-term perspective, ETH continues to move off of exchanges and into cold wallets at a shocking pace, with just 6.38% of the… pic.twitter.com/4MTJgpOLDT
— Santiment (@santimentfeed) February 17, 2025
On February 17, Ether (ETH) surged to an intraday high of $2,832, a 12-day peak, but was unable to maintain that momentum. By February 18, ETH had fallen back to $2,720, representing a modest 2% gain on the day. In comparison, the broader cryptocurrency market saw a 2.4% dip in total capitalization, highlighting Ethereum’s relative strength.
Santiment also highlighted a key trend, noting that Ethereum continues to move off exchanges at a significant pace, with just 6.38% of its available supply remaining on centralized exchanges. This shift towards cold wallets is a strong signal that investors are adopting a long-term “hodling” strategy. Historically, such movements reduce the likelihood of a major sell-off, though Santiment emphasizes that this metric is more relevant for long-term investors than for swing traders.
Despite Ethereum’s recent outperformance, some remain skeptical. Popular crypto YouTuber Lark Davis commented humorously, “Ethereum pumps a few percent, and then markets dump five minutes later,” reflecting concerns over the volatility that often follows such price movements.
Ethereum pumps a few percent and then markets dump five minutes later …
— Lark Davis (@TheCryptoLark) February 17, 2025
Further adding to Ethereum’s positive momentum, the ETH/BTC ratio improved slightly, reaching 0.029 on February 17—a 7% increase from its previous levels. However, this ratio remains near its weakest levels since December 2020, illustrating the ongoing dominance of Bitcoin (BTC) over Ethereum in the market.
Also Read: Ethereum Price Recovery: Bullish Signals from Retail Investors and Derivatives Market
While Ethereum’s short-term price actions show some promise, analysts remain cautious. The broader market’s recovery will play a significant role in determining whether Ethereum’s rebound is sustainable.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
