The value of Ethium for bitcoin has reached a new low, and the ETH/BTC ratio has slipped to 0.027. This is the weakest level in more than 5 years, according to encryption data.
The declining trend began after the transition to Ethereum to the 2022 proof network. Since then, the ratio of bitcoin has plummeted by nearly 70 %, and demand has declined compared to a larger response.
Ethereum's struggle has deteriorated since the approval of Spot Bitcoin in the United States and Ethereum EXCITRARE CATRARA (ETF). Bitcoin ETFs have a strong institutional interest around the world, with a strong inflow of $ 40 billion.
On the other hand, ETH EREUM's ETF products were later approved, attracting much lower investment than BTC, and weakened their position.
James Check, a Crypto analyst known as a checkmate, has MPT that 77 % of ETH/BTC trading date is in a negative area. He explained that the recent decline is a serious and strengthened concern about Ethereum's decline.
