PANews, November 21, reported by The Block, states that the ETH/BTC price ratio has fallen to 0.032, the lowest level since March 2021. Bitcoin's price continues to reach historical highs, currently trading at approximately $97,770, while Ethereum has shown relative weakness amidst the market surge.
Analysis indicates that Bitcoin's strong rise is benefited by the anticipated approval of a Bitcoin spot ETF in the U.S. in 2024 and the support for cryptocurrencies from Trump's potential re-election. In contrast, Ethereum faces dual pressures: it competes with Bitcoin for its status as a store of value and contends with Solana in the smart contract platform space. Solana has attracted more developers and investors due to its advantages in decentralized exchanges and protocol fees. Furthermore, since Ethereum's merger upgrade in 2022, its market momentum has been affected by regulatory uncertainties.
Despite its current underperformance, Ethereum remains the most active smart contract platform in terms of economic activity, and in the long run, it may attract more developers and market attention through technological upgrades and new use cases. Analysts suggest that if Bitcoin's upward momentum slows or if market sentiment for Ethereum improves, its price ratio is likely to rebound.

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PANews reported on November 21 that according to The Block, the ETH/BTC price ratio has dropped to 0.032, the lowest level since March 2021. Bitcoin's price continues to set all-time highs, currently trading at around $97,770, while Ethereum has shown relatively weak performance in the market rise.

Analysis indicates that Bitcoin's strong upward movement is benefiting from the expected approval of Bitcoin spot ETFs in the U.S. in 2024 and the potential re-election of Trump, who supports cryptocurrencies. In contrast, Ethereum faces dual pressures: competing for the status of a store of value against Bitcoin and vying for market share in the smart contract platform space against Solana. Solana has attracted more developers and investors due to its advantages in decentralized exchanges and protocol fees. Additionally, since Ethereum's merger upgrade in 2022, its market momentum has been impacted by regulatory uncertainties.

Despite the current weak performance, Ethereum remains the most active smart contract platform in terms of economic activity and may attract more developers and market attention in the long run through technological upgrades and new use cases. Analysts point out that if Bitcoin's upward momentum slows or market sentiment for Ethereum improves, its price ratio is expected to rebound.

The ETH/BTC price ratio has fallen to 0.032, the lowest level since March 2021.