ETH-BTC Ratio Trends LowerEther has dropped -35% in the last 90 days, while Bitcoin has only fallen by -15% during the same period.The ETH/BTC ratio has also decreased by about 22% over the past three months, hitting a multi-year low of 0.0405 recently. The drop in the ETH/BTC ratio shows that investors are favoring Bitcoin over Ether, leading to lower demand for Ether. For context, US spot Bitcoin ETFs have been more successful since the SEC approved them on January 10, compared to spot Ethereum ETFs.According to onchain data provider Glassnode, these ETFs have had a bigger impact on Bitcoin’s price (8% of the spot volume) than on Ether’s price (only 1% of the spot volume).“This indicates that interest in the Bitcoin ETF is significantly higher than in the Ethereum ETF.”Bitcoin’s Dominance Didn’t Slow DownEther’s weak performance against Bitcoin has also been affected by Bitcoin’s growing dominance in the market.In 2024, Bitcoin’s market dominance increased, hitting a 40-month high of 58% on August 5. This means Bitcoin is gaining strength compared to other cryptocurrencies, including Ether. Bitcoin dominance measures BTC’s market cap compared to the total crypto market and is often used by investors to understand market sentiment.As Bitcoin’s dominance continues to rise, ETH’s value against Bitcoin is likely to keep dropping, suggesting that investors are more optimistic about Bitcoin and may be investing less in Ether.OP's disclosure: I'm long-term 2 BTC via ETF, currently valued at $120,265.80. GLTA!!!ETH losing to BTC so far this year. Wen flip? GLTA!!! via /r/glta_eth https://ift.tt/CvaTnND
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