Ethereum Outpaces Bitcoin as Long-Term Holders Soar to 74.7%

The long-term holder ratios for Ethereum (ETH) and Bitcoin (BTC) over time show a distinct trend in favor of the former.As of now, 74.7% of Ethereum addresses belong to long-term holders, a figure that surpasses Bitcoin’s long-term holder ratio, which is hovering at just over 60%Ethereum Leads in Holder RatiosAccording to the latest data compiled by IntoTheBlock, the latest trend suggests that Ethereum holders exhibit a growing tendency to retain their assets for extended periods, likely reflecting confidence in ETH’s trajectory. The on-chain analytic platform stated that this trend is likely to continue until the leading altcoin nears its previous all-time high, at which point profit-taking behavior among holders could cause a decline in these ratios.It is important to note that this trend of long-term ETH holders consistently increased throughout 2024 as well. During this period, the number of Bitcoin holders, on the other hand, declined.In fact, IntoTheBlock’s previous data revealed that Ethereum’s long-term holder percentage climbed from 59% at the start of the year to 75% by the end of 2024. At the same time, Bitcoin saw its proportion of long-term holders decline steadily from about 70% to 62%.Moreover, the choppy price action briefly resulted in Bitcoin’splungebelow $92,000 this week. The price has since recovered modestly as Bitcoin trades a little above $94,000. However, Bitcoin’s Funding Rate, which sheds light on the demand within the derivatives market, is still low.Bitcoin Funding Rates Fall While Ethereum Eyes a RallyAs explained by CryptoQuant, for any price surge to be sustainable, Funding Rates must reflect strong demand. While a delayed increase in these rates during a rally isn’t uncommon, their absence raises questions about the market’s underlying strength. During the recent Bitcoin rally, Funding Rates spiked midway, indicating a delayed influx of demand.However, these rates fell sharply after Bitcoin was rejected at the $108,000 resistance level last week. Such a trend signaled a weakening market sentiment and a waning bullish momentum. If Bitcoin fails to hold above the critical $90,000 support, it risks increased selling pressure and potentially deeper corrections.Meanwhile, crypto analyst Ali Martinez revealed thatEthereumappears to be following an ascending parallel channel. Within this pattern, a potential dip to the lower boundary at $2,800 could serve as a key support level and a launchpad for a significant rally, possibly propelling the altcoin toward the $6,000 mark.