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Ethereum Price Eyes $3900 Rebound as On-Chain Data Favors Ethereum Over Bitcoin

Ethereum’s price is showing signs of a potential rebound, as on-chain data suggests it may outperform Bitcoin in the near future. Despite experiencing some volatility in the past couple of weeks, with the price hovering around $3360, Ethereum’s overall trend remains bullish. The uncertainty surrounding Bitcoin’s prolonged correction and the ongoing developments related to a spot ETH ETF are contributing to the sideways movement of Ethereum’s price. However, the on-chain data indicates that there is a likelihood of a bullish reversal in the foreseeable future.