Ethereum Shows Improving Signals vs Bitcoin; 2 of 5 Key Bottom Indicators Confirmed

According to CryptoQuant's latest weekly report, Ethereum trades approximately 17% below its realized price of around $2,300, a level historically associated with market undervaluation and cycle bottoms. ETH has shown improving signals relative to Bitcoin: its MVRV ratio has retreated from extreme overbought levels, exchange inflows have declined, ETF holdings are recovering after months of weakness, and ETH/BTC spot trading volumes have fallen into historical ranges associated with market bottoms.

However, only 2 of CryptoQuant's 5 key bottom indicators have reached historical reversal levels. The remaining indicators, while improving, have not yet touched the extreme levels from previous cycle lows, suggesting Ethereum's bottom may still be forming.