Ether loses out to Bitcoin rebound

Yesterday, the rebound in Bitcoin, back above 35k did later extend as the lead cryptocurrency continued to make progress. Eventually that took the price back above 36k. The move higher in Bitcoin was clearly given more traction by the news from El Salvador; that the small Latin American country had been the first nation to make Bitcoin legal tender. As noted here at the time that news broke; it was not necessarily a game changing event, but nevertheless it was clearly good enough to incite some fresh buying. That rebound has continued today too, and it has taken Bitcoin above 37k earlier on and that gain has also come at the expense of Ether. The rise in Bitcoin has not been matched by a corresponding move in Ether, hence the relative price between the two has shifted back in favour of Bitcoin. However, it does remain to be seen how long that will continue to be the case. Bitcoin has traded to as high as $37,665, but it has now backed off from that high in recent trade and it is now trading around 36,800