Analysts say encryption capital rotation is driving up Ethereum, Cardano, and Solana

·QCP Capital analysts say funds are flowing from Bitcoin to altcoins - in the past 24 hours, Ethereum, Cardano, and Solana have risen by 5%, 9%, and 4% respectively.
·The rise of Bitcoin is relatively moderate, only 1.5%.
·The change in market sentiment has highlighted a 13% increase in the ETH/BTC ratio, rising from last Thursday's low of 0.0318 to 0.0371 today.

⚡️Ethereum has seen a significant recovery in the past 24 hours, with an increase of over 5%, while Bitcoin has only seen a 1.5% increase during the same period. This shift in market dynamics is reflected in a 13% increase in the ETH/BTC trading pair, which has risen from 0.0318 to 0.0371 in the past day - marking a significant rebound from its post-election low point.

QCP Capital analysts said, "After Bitcoin's decline, Ethereum is making a comeback, with signs that the market is shifting funds to ETH and altcoins. The 13% increase in ETH/BTC is a clear indication."
According to the price page of The Block, Ethereum, Cardano, and Solana have risen by 5%, 9%, and 4% respectively in the past 24 hours, while Bitcoin's increase is relatively moderate at 1.5%.

☀️Market indicators reflect investors' growing interest in Ethereum, with significant growth in the field of Decentralized Finance. According to DefiLlama's data, the total locked value of Ethereum's Decentralized Finance has surged by 7% in the past week, reaching $664.3 billion.

The broader encryption currency market is influenced by the development of traditional finance, including the rebound in the US market after Donald Trump nominated Scott Besent as Treasury Secretary, which boosted investor sentiment. The Dow Jones Industrial Average and the S&P 500 both hit historic highs on Tuesday, with the Dow Jones Industrial Average rising 123.74 points (+0.28%) to close at 44,860.31 points, reversing a situation where it had fallen more than 300 points earlier in the day. The S&P 500 rose by 0.57% to close at 6,021.63 points, while the Nasdaq Composite Index rose by 0.63% to close at 19,174.30 points.

Investors have responded positively to Biden's 'three arrows' strategy, which aims to achieve a 3% budget deficit, 3% GDP growth, and an increase of 3 million barrels of oil production per day by 2028.
The global encryption currency Market Cap has reached 3.4 trillion US dollars, with a year-on-year growth of 2.1% according to Coingecko's data in the past 24 hours. Bitcoin accounts for 54.7%, and Ethereum accounts for 12.4%.
(Source: the block)