$BTC

The ETH/BTC ratio has dropped to 0.019, marking a multi-year low that historically signals ETH upside potential.

Ethereum's network activity has stagnated since 2021, with no meaningful growth in transactions or user base.

Institutional demand for ETH is weakening, with a decline in staked ETH and ETF holdings.

The Dencun upgrade lowered Ethereum transaction fees, reducing burn rates and weakening ETH’s supply-deflation mechanism.