An $ETH bounce in dollars can still leave it losing ground to $BTC .
In the latest 24-hour snapshot, $ETH was down about 9% against BTC’s 6.6% drop. ETH spot turnover rose 21%, while BTC’s barely moved. That doesn’t tell you who was buying, but it’s a reason to watch spot as closely as the liquidation feed.
On the next bounce, pull up ETH/BTC next to ETH/USDT. If ETH rises in dollars but keeps making lower lows against BTC, the bounce hasn’t changed the relative weakness. A higher low on ETH/BTC would be the first sign that’s changing.
In the latest 24-hour snapshot, $ETH was down about 9% against BTC’s 6.6% drop. ETH spot turnover rose 21%, while BTC’s barely moved. That doesn’t tell you who was buying, but it’s a reason to watch spot as closely as the liquidation feed.
On the next bounce, pull up ETH/BTC next to ETH/USDT. If ETH rises in dollars but keeps making lower lows against BTC, the bounce hasn’t changed the relative weakness. A higher low on ETH/BTC would be the first sign that’s changing.
