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ETH/BTC Pair Hits Lowest Level This Year

ETH/BTC Pair Hits Lowest Level This Year

HappyCoinNewsHappyCoinNews2024/11/22 10:00
By:HappyCoinNews

Today Bitcoin recorded another historical maximum, breaking the $98,000 mark. Ethereum cannot boast of such achievements yet, so its indicators in relation to BTC fell to minimum values ​​this year.

ETH/BTC Pair Hits Lowest Level This Year image 0

ETH/BTC Pair Chart for the Year

According to CoinMarketCap, in just one month, Bitcoin's share of the crypto market has grown by more than 3% to 60,5%.

Today at Bitcoin more institutional investors are investing than before. The second factor was the changing political landscape, in particular the victory of Donald Trump in the US presidential election.

 

Donald Trump has had a huge impact on investors after he reconsidered his stance on cryptocurrencies, said Edul Patel, CEO of crypto platform Mudrex.

At the same time, dominance Ethereum has fallen from 13,8% a month ago to 11,8% today. The leading altcoin's price since the start of the year shows that it is still lagging behind Bitcoin's uptrend.

Investor interest in Ethereum also falls. So, altcoin season index , which is currently at 28 points, shows low interest in this type of asset.

The decline in altcoin market cap compared to Bitcoin also suggests that liquidity continues to shift towards BTC.

EN @happycoinnews
EN @happycoinnews_en
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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