ETH/BTC shows 14% relative gain between Nov 24 and Dec 8 as traders shift liquidity

Ethereum is drawing liquidity as traders reduce Bitcoin exposure. Between 24 November and 8 December, ETH/BTC rose about 14%, per TradingView, and over the past 24 hours liquidations were nearly balanced at $67.42 million longs versus $64.53 million shorts. Derivatives data from Alphractal also show BTC perpetual activity dropping while ETH contracts hold near 17 million.