• Ethereum is closely mirroring Bitcoin’s movements, making it increasingly susceptible to a potential correction.
• With whales continuing to dominate, keeping a close eye on their daily actions will be crucial.

Bitcoin [BTC] has surged nearly 3% in the past 24 hours, reaching a fresh all-time high of $106,488. As the New Year kicks off, momentum is clearly building. 

Not to be outdone, Ethereum [ETH] is making its own move, inching toward its yearly high of $4,000. Traditionally, ETH has mirrored BTC’s moves, but with shaky hands and overleveraged positions in the market, some are questioning if Bitcoin’s latest surge signals an approaching top.

If so, could this be the moment when ETH breaks away from BTC’s shadow? With the market maturing, is a divergence between the two now more possible than ever?

Bitcoin is still in charge of Ethereum

2024 is coming to a close, and looking back, it’s been a year of major milestones for Bitcoin. In the first quarter alone, Bitcoin surged from $49,710 to an all-time high of $73,000 in just 30 days.

Ethereum didn’t sit on the sidelines either. During the same period, ETH also broke past $4K, reaching levels not seen since 2021. But here’s the catch: Just as Bitcoin hit its peak, ETH followed.

In just one week, ETH plunged to around $3,100, with daily drops reaching up to 10%.

Fast forward to now, and an interesting development has caught AMBCrypto’s attention. On the daily chart, while Ethereum’s price action has continued to mirror Bitcoin’s moves, its price swings—both ups and downs—have become increasingly sharp and volatile.

Therefore, reclaiming $4K won’t be an easy feat for Ethereum. The initial pump will likely come from Bitcoin, bu

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Author: Ripley G