$ETH is outrunning
$BTC right now, and there are exact levels that decide if this keeps going.
ETH is up 11% this month versus 8% for BTC, and analyst Ali Martinez is calling it a bull flag setup.
Here's how the levels break down:
$2,640 is flag support. Lose it and the pattern breaks. $2,700 is the breakout trigger on an hourly close. ETH is trading around $2,737 right now, so this level is already being tested. $2,800 is the most traded ETH options strike going into Friday's expiry, so plenty of eyes are on it. $3,000 is the flag target, about 9.6% higher from here.
From $2,640 to $3,000 that's roughly 3.5% of risk for 9.6% of upside. That's exactly the kind of setup traders like, which is also why it's crowded.
The number worth watching more than price itself is the ETH/BTC ratio, sitting around 0.0325. If ETH only rises because BTC rises, that ratio stays flat and it's just beta, not real rotation. If the ratio climbs while BTC holds around $84K, that's capital actually moving into ETH.
SharpLink's CEO recently called
$BTC an exit asset and ETH a bet on new financial rails. The ratio is what will show whether the market actually agrees with that.