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The Bitcoin-to-Ethereum ratio suggests which of the two cryptocurrencies is gaining or losing ground versus the other. A rising ratio shows that Bitcoin outperforms Ethereum, while a falling ratio suggests the opposite. The BTC/ETH ratio reached 20.76 in today's trading session, its highest level since April 2021. This trend implies a stronger demand for Bitcoin, the oldest and most established cryptocurrency, than Ethereum., citing QCP Capital analysts, this trend might be a very early warning of FOMO — fear of missing out — turning into"fear" if Ethereum is used as a proxy for sentiment toward smaller tokens or alternative cryptocurrencies.
A key factor contributing to Bitcoin's dominance might be the growing institutional interest in the cryptocurrency. Bitcoin hit a new high of $73,798 in mid-March, riding a wave of inflows into dedicated U.S. exchange-traded funds that debuted in January.has retreated by around 9.33% from its ATH as ETF demand has cooled, and alternative cryptocurrencies have also declined.
At the time of writing, BTC had dropped 0.37% in the previous 24 hours, reaching $66,563. Ethereum, the second largest cryptocurrency by market value, lost more than Bitcoin in the last 24 hours, falling 3.06% to $3247.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.