ETH quietly slipped into a rare area historically, as the market signal of deep value compared to bitcoin (BTC) shows. With a percentage you have not seen since 2019Cryptoquant says.
The sign of the market value of Ethereum ETH/BTC to the achieved value scale (MVRV), a measure of the relative evaluation that measures market morale and historical trading patterns.
Historically, whenever this indicator reaches similar low levels, ETH later achieved great gains and greatly outperformed BTC.
Investors seem to take a notification. The demand for ETH ETF has increased sharply, with the high level of ETH/BTC ETF Holdings since late April, according to data from Cryptoquant.
This allocation shift indicates that institutional investors expect ETH to excel The last Pectra upgrade Or the macroeconomic environment is more convenient.
Indeed, the ETH/BTC price rate increased by 38 % of its weakest levels since January 2020, indicating that investors and traders are betting that the bottom in the “alternative season” soon.
This repeats what some market participants said.
Mars Cheng, General partner of Bizantine Capital, said at a Modern message Traders should remember that ETH was usually the main altcoin index on risk, and the large height in general leads to ALTCOIN more broader.
Data on the series supports this optimism. The BTC spot trading volume increased to 0.89 last week, which is its highest level since August 2024, indicating a renewed appetite of investors. A similar trend occurred between 2019 and 2021, when ETH continued BTC performance four times.
Cryptoquant also notes that ETH Exchange deposits, which are often an indication of the sale of pressure, have decreased to the lowest relative level since 2020, which means that investors expect prices to rise.
Currently, emphasis on the soul decisively depends on the main 365 -day moving average against BTC.
However, with a decrease in the disguised value, the height of the institutional interest, the decrease in the sale pressure, the ETH appears to be in a large position in the coming months.
But there is one thing that eth is still behind the network activity, such as Cryptoquant was reported in a prior report. Without more people who use Ethereum, it will be difficult for the price of the distinctive symbol to go to the moon.
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