Bitcoin and Ether Show Divergent Trends in 2025

According to Cointelegraph, a recent report by Glassnode and Keyrock reveals that Bitcoin (BTC) and Ether (ETH) are exhibiting distinct behaviors in the cryptocurrency market. Bitcoin is increasingly resembling a savings-driven asset with low velocity, akin to gold, while Ether is evolving into a productive onchain asset utilized for staking, collateral, and institutional applications. Bitcoin's dormancy and turnover rates are now more similar to gold than fiat currency, with 61% of Bitcoin remaining unmoved for over a year and a daily turnover rate of just 0.61% of its free float. This positions Bitcoin firmly in the Store-of-Value category, behaving more like a static asset than a currency in motion. In contrast, Ether is demonstrating a different trend, with long-term holders mobilizing coins three times faster than Bitcoin holders, reflecting a utility-driven approach rather than hoarding. Ether's turnover rate is approximately 1.3% per day, double that of Bitcoin, and a significant portion of Ether is locked in staking or ETFs, contributing to a productive float that supports DeFi and liquid staking systems. Both Bitcoin and Ether are experiencing a decline in exchange balances, with Bitcoin decreasing by 1.5% and Ether by nearly 18%, as coins move into spot ETFs and digital asset investment vehicles. Analysts suggest this migration into institutional custody represents a crucial structural shift, with Bitcoin becoming more like a digital savings bond and Ether serving as the operational backbone of onchain activity. Despite these divergent trends, some analysts perceive Ethereum's high activity as a potential risk. 10x Research argues that Ethereum's dynamic behavior may indicate structural fragility, especially as Bitcoin continues to dominate institutional treasury flows. A recent report from 10x suggests that shorting Ether could act as a hedge against Bitcoin's increasing institutional momentum. The firm highlights that Ether-focused companies are facing challenges, with diminishing resources affecting the "digital asset treasury" narrative that previously drove accumulation. BitMine serves as an example, with its treasury structures allowing institutions to acquire Ether at low costs and later sell it to retail investors at a premium, a cycle that appears to be breaking down. Although Ether inflows into company-held treasuries have stagnated in Q4, BitMine has continued to increase its Ether allocation, adding 110,288 ETH on November 10, bringing its total to 3,505,723 ETH. This article does not provide investment advice or recommendations, and readers are encouraged to conduct their own research before making investment decisions.