A more in-depth have a look at the ETH/BTC ratio from its cycle backside in June 2022 reveals a seamless collection of weaker lows. In earlier cycles, such because the 2016-2019 and 2019-2022 durations, the ETH/BTC ratio was a minimum of 200% increased from the cycle low at this level. Nonetheless, the present ratio is 25% beneath its June 2022 cycle low, highlighting ether’s underperformance towards bitcoin.
