ETH's performance has been negatively affected by lower investor demand compared to BTC. The ETH/BTC ratio has dropped by 75% from the level of 0.080 during The Merge (September 2022) to 0.0196 today. This is the lowest value since January 2020. Low values were recorded in only 500 of the 3,531 trading days. Unlike typical bull markets, there hasn't been a significant period during this cycle where ETH outperformed BTC, indicating an unusual deviation from historical patterns.

In the charts, ETH/BTC is at a significant horizontal support level, and in the medium term, the likelihood of a rebound from the 0.01980 level is quite high. Monitoring the ETH/BTC pair is crucial for altcoins. The ETH/BTC pair reflects Ethereum's strength compared to Bitcoin. When ETH rises against BTC, it often indicates a shift in demand from Bitcoin towards altcoins. Therefore, the growth of this pair could signal the beginning of the 'altseason' that we are all eagerly awaiting. #bitcoin #ethereum