Why Is Ethereum (ETH) Losing Ground To Bitcoin? Key Report Explains ETH Struggles

Quick Summary:

Related Reading: Bitcoin Fear And Greed Index Falls To Extreme Fear’ As BTC Dips Below $54,000 However, if Ethereum fails to hold support at its yearly low of $2,200, the price will likely enter a deeper correction phase, potentially signaling the start of a bear market.

Declining on-chain activity, shrinking institutional interest, and the underwhelming performance of Ethereum ETFs compared to Bitcoin are among the key contributors to Ethereum’s struggles, with the ETH/BTC pair now sitting at 0.0425, its lowest level since April 2021.

Additionally, traders and investors have shown a clear preference for Bitcoin over Ethereum, as the relative spot trading volume of ETH to Bitcoin has dropped from 1.6 to 0.76 in the past week.

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Article Details

Author / Journalist: Sebastian Villafuerte

Category: Crypto

Markets: United Kingdom

Topics: ETH ETH price analysis Ethereum (ETH) Ethbtc Bitcoin vs Ethereum Ethusd Ethereum Price action Ethereum Bitcoin and Ethereum correlation Ethereum

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-07 @ 12:30:44 (15 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 485 words

Reading Time: 3 minutes read

Sentences: 72 lines

Sentence Length: 7 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 22398196

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About NewsBTC

Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 5 posts per day

Year Established: 2013

Headquarters: United Kingdom

News Last Updated: 13 hours ago

Coverage Areas: United Kingdom

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