Ethereum has emerged as the standout performer in the cryptocurrency market this week after softer-than-expected US inflation data improved appetite for risk assets. While both Bitcoin and Ethereum extended their near-term rebounds following June’s CPI surprise, Ethereum has pulled decisively ahead. Over the past five trading days, Ether has climbed around 7%, compared with Bitcoin’s roughly 2% gain. The ETH/BTC ratio has also rebounded from a 10-month low near 0.02737 reached around June 17 to around 0.0297, an advance of roughly 8-9%. The divergence has revived speculation that cryptocurrencies may finally be emerging from nearly a year of persistent selling.

There is historical precedent supporting that optimism. As Yahoo Finance…