Ethereum

FOMO

Bitcoin

April

The last 30 days have proven to be a highly volatile period for the global digital assets market as the two biggest cryptos began to move sideways. Data shows that a recent surge in the ratio between the prices of Bitcoin and Ether signals a potential shift in risk appetite within the market. However, the crypto market looked confused on Friday. Is FOMO the only reason? 
As per the data, the scale between the BTC and ETH prices is now indicating a <a href="https://news.todayq.com/btc-soars-3-despite-grayscales-85mln-bitcoin-sell-off/" rel="noopener noreferrer nofollow">stronger demand for Bitcoin</a> compared to Ether. This suggests that investors are choosing Bitcoin over the biggest altcoin. This ratio reached its highest level since April 2021.&nbsp;
It is crucial to note that this can be the Exchange-Traded Fund (ETF) effect which is working in the favor of Bitcoin. The biggest digital asset saw a major integration with spot ETFs, while, Ethereum linked investment products are struggling to get approval from the US Securities and Exchange Commission (SEC).
A note from crypto asset trading company QCP Capital suggests that this pattern could be an early indication of FOMO. It added that this can later transform into fear if Ethereum is seen as a proxy for sentiment towards smaller tokens.&nbsp; Bitcoin Ether ration widening up 
Bitcoin had managed to register marginal gains in the last 30 days, while, Ethereum’s price dropped by more than 12%. In the first phase of the bull run, BTC managed to trade above the $73,000 price level to register its new all time high (ATH). On the other hand, ETH price also picked up speed but it was not enough to make new milestones.
The world’s biggest crypto price is up by 1.14% in the last 24 hours. BTC is trading at an average price of $67,088,&nbsp; at the press time. However, it is still down by almost 10% from its ATH.&nbsp;
It seems to be that Ethereum is dealing with high selling pressure at the moment as its price has dropped by 2% in the last 24 hours. It is trading at an average price of $3,278, at the press time.
If we talk beyond the crypto market, concerns about Bitcoin’s next peak and waning investor appetite for cryptos signal broader weakness in the stock market. However, the upcoming BTC halving event has also raised doubts about its traditionally bullish impact. This event will eventually reduce the token’s new supply.

FOMO alert!! Investors flocking to Bitcoin ignoring Ether

Todayq News

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