Ethereum-Bitcoin ratio drops to historic low as ETF approval speculation heightens
Summary
The ETH/BTC ratio has hit a historic low of 0.048, indicating Ethereum's weaker performance compared to Bitcoin. This reflects market preference for BTC over ETH. BTC's price has outperformed Ethereum's, rising by over 170% in the past year, reaching a 21-month high. Market optimism and anticipation for a spot ETF approval have fueled BTC's positive run. In contrast, Ethereum's lukewarm price performance is linked to the launch of futures-based ETFs with tepid demand, leading to CoinShares describing ETH as the "least loved altcoin."
