Data: ETH valuation drops to the lowest level since 2019, facing supply pressure and weak demand

According to a report by Deep Tide TechFlow, on May 8, CryptoQuant stated on social media that the valuation of ETH compared to BTC has dropped to its lowest level since 2019. Historical data shows that this situation typically leads to ETH outperforming BTC. However, currently, ETH faces issues such as supply pressure, weak demand, and lackluster on-chain activity in the market, which may hinder its price rebound.