According to data from CryptoRank, the ETH/BTC pair has surpassed the 365-day moving average and maintains bullish momentum. This occurred for the first time since September 2022, when the Ethereum network transitioned to Proof-of-Stake. The growth came after a bounce from the support level of 0.02.
The all-time high of the ETH/BTC ratio is 0.08. If the price of Bitcoin consolidates around 120,000 dollars, Ethereum would need to rise to approximately 9,600 dollars to reach that level.
