The ratio of Bitcoin to Ethereum prices suggests that the market's risk preference for cryptocurrencies may decrease
The ratio of Bitcoin to Ethereum prices suggests that the market's risk preference for cryptocurrencies may weaken. The Bitcoin-Ethereum price ratio has risen to 20, reaching its highest level since April 2021, reflecting a more resilient demand for Bitcoin and the opposite for Ethereum. cryptocurrency trading company QCP Capital said if Ethereum reflects the market sentiment towards smaller tokens, then the latest data could be "a very early signal" of FOMO (Fear Of Missing Out) turning into fear.
As demand for spot Bitcoin ETFs cools down, Bitcoin has fallen about 9% from recent highs. An index measuring small digital assets fell by about 20% over the same period. As investors lose interest in cryptocurrencies, Bitcoin may peak, wrote strategists at Stifel Nicolaus Co including Barry Bannister, "This might also suggest that stock markets will weaken."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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