Ethereum (ETH) has been underperforming in this cycle, trailing far behind Bitcoin’s impressive rally to new all-time highs. While Bitcoin captures headlines with its continued surge, ETH struggles to reclaim its yearly highs, leaving many investors questioning its next move.

Despite the lackluster price action, data from CryptoQuant CEO Ki Young Ju reveals a silver lining for ETH holders. According to Ju, many ETH investors are enduring unrealized losses, reminiscent of ETH’s early 2020 bottom before its explosive bull run. This suggests that the current market conditions might offer a unique opportunity for long-term ETH investors.

Ju’s analysis highlights that substantial price recoveries have historically followed such phases of unrealized losses. If Ethereum starts to gain momentum and close the gap with Bitcoin, the potential gains could be massive. For investors, this could mark the beginning of an upward trend, rewarding those who remain patient during this period of consolidation.

With market sentiment shifting and historical data supporting a bullish case, ETH’s next move could be pivotal. Investors and analysts closely watch ETH’s price action, hoping for signs of a breakout that could reignite its momentum and deliver significant returns.

Last Chance To Buy Ethereum?

Despite Ethereum’s underwhelming performance this cycle, there are signs of bullish price action in recent weeks. ETH has remained relatively stagnant compared to Bitcoin’s meteoric rise. However, optimistic signals suggest this could be the last opportunity to accumulate ETH at discounted prices before it starts its ascent toward new highs.

Critical data from CryptoQuant CEO Ki Young Ju sheds light on an interesting development: the ETH-BTC NUPL (Net Unrealized Profit/Loss) has reached a 4-year low. This indicates that, despite Ethereum’s lagging performance against Bitcoin, many ETH holders are enduring unrealized losses.