Bitcoin is again inching closer to a potential price breakout, even as it hovers at its highest point in 18 months.

Markets priced bitcoin (BTC) above $38,600 on Friday morning — up 9% over the past month and more than double since this time last year.

Number-two crypto ether (ETH) is meanwhile playing catch-up. It’s also at its highest point since mid-last year, but trails bitcoin’s returns by nearly half.

The ETH/BTC ratio (the bitcoin cost of ether) has fallen by one-fifth over the past six months. It’s showing signs of closing the gap, however, having regained almost 4.5% in November.

Bitcoin bulls may explain the crypto’s strength with hype around spot bitcoin ETFs —…

Read more on Blockworks