The main reason Ethereum is outperforming Bitcoin is due to MicroStrategy's major exposure. The same can be seen in the US stock market: BNMR is strong and hasn't pulled back at all with a 10% gain tonight. MSTR dropped 8% straight down. Also, the big ETH whale from HYPE who is long hasn't closed his position, which is supporting ETH. However, once this guy closes his position, ETH's premium may quickly tighten. After such a big rally, it doesn’t hurt to be cautious.
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The main reason Ethereum is outperforming Bitcoin is due to MicroStrategy's major exposure. The same can be seen in the US stock market: BNMR is strong and hasn't pulled back at all with a 10% gain tonight. MSTR dropped 8% straight down. Also, the big ETH whale from HYPE who is long hasn't closed his position, which is supporting ETH. However, once this guy closes his position, ETH's premium may quickly tighten. After such a big rally, it doesn’t hurt to be cautious.