ETH/BTC ratio falls to lowest since April 2021

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Bitget2024/10/21 22:55

Bitcoin is up 14 per cent since the Federal Reserve cut interest rates by 50 basis points in September, while ethereum is up just 12 per cent. weaker institutional demand for ethereum has caused the ETH/BTC ratio to fall to its lowest point since April 2021, Kaiko Research noted. Bitcoin benefited from exchange-traded fund (ETF) inflows, while Ether underperformed other mainstream cryptocurrencies. Moreover, analysts believe that Ether will struggle to sustainably outperform Bitcoin until there is a significant shift in institutional demand.

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Data: BTC options expiration of 143,000 contracts with a max pain point at $98,000; ETH options expiration of 572,000 contracts with a max pain point at $3,400.