Bitfinex Alpha: Ethereum ETF Struggles, Bitcoin ETH Shows Resilience with a Bullish Outlook Expected for Q4

Bitfinex released a report stating that compared to Bitcoin ETFs, Ethereum ETFs continue to struggle with significant capital outflows leading to poorer performance relative to Bitcoin. Although emerging Ethereum ETFs like BlackRock's iShares Ethereum Trust have seen some inflows, established products such as Grayscale's Ethereum Trust (ETHE) are facing substantial outflows, exacerbated by aggressive selling from major market makers like Jump Trading. This has led to a 40% drop in the price of Ethereum since early August and the ETH/BTC ratio falling to its lowest level in over 1200 days. In contrast, Bitcoin ETFs have shown resilience with continuous capital inflows and more stable price performance. Despite challenges such as oversupply, market confidence in Bitcoin remains strong. We still expect Bitcoin will follow its previous halving year trajectory and we predict very bullish for Q4. According to historical data, either the low point of Q3 has already appeared or we have one last round of decline left before finding the bottom for Bitcoin.