$ETH . Recently, ETH broke an 8-year trend in relation to BTC, raising concerns about its future performance.

*Technical Analysis*

- The ETH/BTC pair fell below the support of the ascending trend line, which previously triggered significant recoveries.

- Some technical analysts see this movement as a sign of weakness, suggesting that ETH could drop another 50% against BTC by the end of 2024.

*Factors Influencing ETH's Performance*

- *Launch of ETFs*: The launch of Bitcoin exchange-traded funds (ETFs) in the US may have diverted attention and investment from ETH to BTC.

- *Competition with Solana*: The growing adoption of Solana (SOL) may be negatively impacting ETH's performance.

- *Underperformance*: ETH has underperformed compared to BTC in 2024, partly due to the launch of the Bitcoin ETF and the poor performance of its own ETF.¹