NEW YORK, January 12, 2024 - Ethereum (ETH) has experienced a significant rise against Bitcoin (BTC), jumping from yearly lows of 0.0478 on January 9 to reach 0.0587, according to data from Cointelegraph Markets Pro and TradingView. ETH/USD also broke through to levels not seen since mid-2022, signaling strong bullish momentum.

Traders are closely watching the bullish divergence on the MACD indicator for ETH/BTC on weekly charts, which has become a key topic of interest. Ethereum, along with several other large-cap altcoins, has outperformed Bitcoin this week, even as BTC celebrates the launch of spot exchange-traded funds (ETFs) in the U.S.

This rally in ETH is driven by growing speculation that an Ethereum ETF could debut later this year, adding to the bullish sentiment. Larry Fink, CEO of asset management giant BlackRock, recently stated on CNBC that he "sees value" in the possibility of an Ethereum ETF, shortly after his company launched a Bitcoin ETF. His comments added further excitement to Ethereum’s outlook.