[Analyst: ETH Hits New High, Bullish Outlook Surpasses BTC] According to Coindesk, multiple analysts have stated that ETH has surpassed $4,900, maintaining its bullish momentum. Crypto Rover noted that exchange reserves are shrinking at a record pace, indicating rising demand and sustained upward price pressure. Analyst Miles Deutsher pointed out that BTC's rally has stalled near recent highs, while ETH has just entered the price discovery phase. Buying activity on dips remains strong, and typically, when BTC weakens, traders shift to relatively stronger assets (ETH).