Ethereum traders turn bullish on ETH/BTC as ETF outflows persist

Ethereum has broken above a descending trendline against Bitcoin, prompting bullish calls from traders even as U.S. spot Ether exchange-traded funds continue to record withdrawals. ETH/BTC traded near 0.02955 on Max Crypto’s chart after breaking above a descending trendline. Ash Crypto says Ethereum needs to clear resistance to confirm further strength against Bitcoin. Michaël van de Poppe expects altcoin outperformance but says Ethereum must lead the move. U.S. spot Ethereum ETFs recorded $139.7 million in net outflows on Nov. 2. According to charts shared by Ash Crypto and Max Crypto on Nov.