Ethereum

Bitcoin

April

BlackRock

The ratio between dollar prices of Ethereum (ETH) and Bitcoin (BTC) has reached its lowest level since April 2021, signaling a significant shift in market sentiment and dynamics in the cryptocurrency space. 
<h2 id="ethereum-bitcoin-parity-reached-lowest-level-since-april-2021">Ethereum/Bitcoin Parity Reached Lowest Level Since April 2021</h2> 
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 On the Binance exchange, ETH/BTC fell to 0.04563, indicating a decline of approximately 16% since the beginning of the year. 
</blockquote> 
This trend was further emphasized by the bearish trend observed a month ago, which points to a prevailing trend towards Bitcoin, the leading cryptocurrency by market cap. 
The downward trend in the ETH/BTC price can be attributed to several factors, including reduced demand for Ethereum-linked exchange-traded products (ETPs). 
Latest data from Bloomberg, cited by ETC Group in its weekly report, revealed that there was a net outflow of approximately $63.5 million from global Ethereum ETFs, particularly affecting exchange-traded funds (ETFs) listed in Hong Kong. 
Analysts point to several key factors contributing to Ethereum's fall out of favor with investors. Coinbase Institutional Research analyst David Han highlighted ongoing uncertainty regarding the approval of spot Ethereum ETFs in the US. 
Related News: <a href="https://en.bitcoinsistemi.com/south-korea-based-bithumb-exchange-announced-that-it-listed-these-altcoins-in-spot-transactions/" target="_blank" rel="dofollow">South Korea-based Bithumb Exchange Announced That It Listed These Altcoins in Spot Transactions!</a> 
This uncertainty contrasts with the clear regulatory pathway for spot Bitcoin ETFs, which reinforces the narrative of Bitcoin as a store of value and macro asset. 
Additionally, the emergence of competing layer 1 blockchain networks such as Solana has shifted attention away from Ethereum as the primary platform for decentralized application (dApp) distribution. 
Solana's increasing market share in decentralized exchange volumes underscores this trend and poses a competitive challenge to Ethereum. 
Despite the potential of Ethereum ETF approval to attract new capital, traders remain skeptical about the SEC's timeline. 
Polymarket data shows the SEC has only a 10% chance of approving a spot Ethereum ETF by the end of May, with pending filings from VanEck and BlackRock awaiting regulatory decisions. 
*This is not an investment recommendation. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/ethereum-bitcoin-price-dropped-to-its-lowest-level-since-2021-what-does-it-mean/">Ethereum/Bitcoin Price Dropped to Its Lowest Level Since 2021! What Does It Mean?</a>

Ethereum/Bitcoin Price Dropped to Its Lowest Level Since 2021! What Does It Mean?

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