$BTC CryptoQuant: Ethereum is currently undervalued compared to Bitcoin as it was in 2019

CryptoQuant analysts have recorded the largest gap between ETH and BTC in the last five years. Historically, such periods have ended with a rise in Ethereum, but currently, recovery may be hindered by weak demand, increasing supply, and low network activity.

Experts note that after the Dencun upgrade, token burning has almost stopped, supply is increasing again, and interest from investors and funds is declining. While this is not a signal for a reversal, the potential for a bounce remains for Ethereum.