Ethereum strengthens its position against BTC for the first time in two years
According to CryptoRank, the ETH/BTC pair has broken the 365-day moving average and continues its upward movement. This is the first such case since September 2022, when Ethereum transitioned to Proof-of-Stake.
The rise occurred after a rebound from support at the level of 0.02.
To reach the historical maximum ratio of 0.08, with the price of Bitcoin around $120,000, Ethereum would need to rise to $9,600.