Bitfinex Alpha: Ethereum ETF is struggling, Bitcoin ETH shows resilience and is expected to be bullish in Q4

Odaily Odaily News Bitfinex released a report saying that compared with the Bitcoin ETF, the Ethereum ETF continues to struggle, and a large amount of capital outflows have caused Ethereum to perform poorly relative to Bitcoin. Although emerging Ethereum ETFs such as BlackRock's iShares Ethereum Trust have some positive inflows, established products such as Grayscale's Ethereum Trust (ETHE) have faced a large outflow, which has been exacerbated by aggressive selling by major market makers such as Jump Trading. This has led to a 40% drop in Ethereum prices as of early August, and the ETH/BTC ratio has fallen to its lowest level in more than 1,200 days. In contrast, the Bitcoin ETF has shown resilience, with continued capital inflows and more stable price performance. Despite challenges such as oversupply, market confidence in Bitcoin remains strong. Bitcoin is still expected to develop along the trajectory of previous halving years, and we expect the fourth quarter to be very bullish. Based on historical data, either the lows of the third quarter have already occurred, or we have one last round of declines to find the bottom of Bitcoin.