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Ether (ETH) is worth more in Bitcoin (BTC) than at any time since the start of the year amid renewed appetite for altcoins.

Data from Cointelegraph Markets Pro and TradingViewconfirms that ETH/BTC has cleared key resistance to pass 0.08 BTC on Aug. 13.

The move is impressive for the largest altcoin, Ether, as the area around 0.075 represented a troublesome sell zone that had previously kept bulls in check since January.

At the time of writing, ETH/BTC is working to retain the newly-won level, as traders query how long its strength might last.

As Cointelegraph reported earlier, ETH/USD passed $2,000 overnight, a significant psychological boundary in itself unseen since May.

Noting a trend to pile into altcoins developing, on-chain analytics firm Glassnode eyed a desire among investors to heighten risk exposure in the current atmosphere.

According to Swissblocks Altcoin Cycle Signal, some of bitcoins force tempered as investors divested into altcoins in a lower-risk environment, co-foundersYann Allemann and Jan Happel wrote in the latest edition of their "Uncharted" newsletter:

The overall altcoin market cap also reached its highest since the end of May this week, passing $700 billion, according to figures from TradingView and CoinMarketCap.

Turning to potential price targets for Ether, traders nonetheless remained conservative after months of upside.

Related:Price analysis 8/12: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, AVAX

$ETH to $2200 as long as we stay above $1737, popular account Crypto Chase summarized:

LTF trend v bullish: I'm eyeing breakout if $2k is claimed --> $2.4K, fellow account Karoush AK continued:

In its latest market update to Telegram channel subscribers, meanwhile, trading firm QCP Capital echoed the need for a cautious approach to further gains in a burgeoning altcoin market.

Of particular interest, staff wrote, was open interest (OI) on derivatives markets, with ETH eclipsing BTC activity by almost double.

ETHBTC has broken above the 0.08 level and ETH option Open Interest (OI) is at an all-time high of $8 billion, overshadowing BTC option OI of $5 billion. This is unprecedented, it wrote:

Ethereum's September Merge event, it added, could turn out to be something of an inflection point for markets.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Ethereum hits 8-month highs in BTC as money heads for riskier altcoins - Cointelegraph