Chart of the Day - Friday, May 9, 2025

🏆  Today's Chart of the Day was shared by Peter Brandt (@PeterLBrandt).
  

• It was a bullish week for Crypto, with Bitcoin reclaiming $100k. But it was Ethereum, the second-largest cryptocurrency, that stole the spotlight, surging nearly +30% over the past two days.
   
• While Bitcoin is up +64% over the past year, Ethereum is down -23%. Despite its lack of participation this cycle, Ethereum remains the second-largest cryptocurrency by market cap ($283 billion).
   
• Peter points out that Ethereum's sloppy price action over the past four years is starting to resemble a longer-term consolidation pattern. It has made a series of lower highs and higher lows since 2021, building pressure for a potential multi-year trend. 
   

The Takeaway: Ethereum has lagged considerably over the past four years. However, it's coiling into a narrow range and setting the stage for a potential multi-year trend.