Bitcoin retests $21K as it takes back ground from Ethereum ahead of The Merge

Ethereum loses 0.8 BTC as Bitcoin leads the rally going into the last weekend before The Merge

Liam 'Akiba' Wright
Author
Liam 'Akiba' Wright
1 min read
This article was published 4 years ago. Some details may no longer reflect current market conditions or recent developments. If you spot anything that needs an update, contact us.
Bitcoin retests $21K as it takes back ground from Ethereum ahead of The Merge

Cover art/illustration via CryptoSlate. Image includes combined content which may include the use of AI tools.

Make preferred on Google logo

Bitcoin is up 10.3% on the day following an overnight rally taking it back over $20,000 and testing the $21,000 resistance.

Bitcoin rally

Interestingly, the ETH-BTC chart shows that Ethereum gave up its recent gains against Bitcoin — falling 4% on the day. Ethereum rose 4.5% against the Dollar overnight but fell by a similar amount against Bitcoin. Ethereum had reached 0.84 BTC but is now trading at 0.81, still 5% up since the start of September.

Advertise with CryptoSlate

ethbtc

CryptoSlate Daily Brief

Daily signals, zero noise.

Market-moving headlines and context delivered every morning in one tight read.

5-minute digest 100k+ readers

Free. No spam. Unsubscribe any time.

You’re subscribed. Welcome aboard.

Following the issues related to the ChainID for the ETHPoW chain, along with some validators on the Beacon Chain being unable to update, it is possible Bitcoin's rally is driven by fear among ETH holders. The price movement in ETH-BTC suggests that holders are selling ETH for BTC.

Mentioned in this article
Bitcoin Ethereum
Posted in
Bitcoin logo Bitcoin Ethereum logo Ethereum Price Watch Trading
Author View profile
Liam 'Akiba' Wright
Liam 'Akiba' Wright
Editor-in-Chief CryptoSlate

Also known as "Akiba," Liam Wright is a reporter, podcast producer, and Editor-in-Chief at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change.

Advertise with CryptoSlate
Context

Related coverage

Explore related reporting by asset, place, or topic.

AI Usage Disclosure

CryptoSlate may use AI tools to support research, editing, and production workflows. Published articles remain editorially reviewed by our team. Read our full AI usage disclaimer.

Commitment to Transparency

The author of this article is invested and/or has an interest in one or more assets discussed in this post. CryptoSlate does not endorse any project or asset that may be mentioned or linked to in this article. Please take that into consideration when evaluating the content within this article.

Disclaimer

Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies. For more information, see our company disclaimers.

Bitcoin BTC (24h)
$78,388.59 +0.68%
Market Cap $1.57T
24H Volume $20.78B
In this article