$ETH $ETH Let’s break down this $ETH/BTC chart—it’s a rough one for Ethereum bulls, no doubt.

Chart Overview: The weekly $ETH/BTC pair on Kraken shows a brutal downtrend since the May 2020 halving. From a peak near 0.1200 post-halving, it’s been a steady slide, hitting a new low of 0.02365 on March 22, 2024, as marked.

Ratio Pain: At 0.02363, ETH is at its weakest against $BTC since early 2017. The 48 bars (336 days) of decline since the halving, with an 821.48K volume, show heavy selling pressure on the pair—likely profit-taking or rotation into $BTC.

My Take: This $ETH/BTC downtrend reflects $BTC’s cycle dominance, but it’s not game over for $ETH. If altseason kicks in within your