ETH/BTC: Down since 2022 MERGE
In the past year, ETH has been in a weak position relative to BTC. Judging from the ETH/BTC indicator from 2022 to the present, it was in a state of decline from the beginning of 2022 to June, falling from 0.081 to around 0.050. Since then, due to the favorable merger, there has been a rebound, returning to around 0.8 in September 2022. After the merger was implemented, the indicator was in an overall downward trend, currently at 0.058, which is close to the weekly ema200.
However, in the long term, ETH/BTC is in growth mode. Extending the time scale, during the bear market in 2018, ETH/BTC reached a minimum of 0.01, and in the bear market from 2022 to the present, ETH/BTC was recently at 0.05. This is mainly due to the development and growth of the ETH ecosystem, which has accumulated a large amount of on-chain value compared to the previous bear market.
In the past year, ETH has been in a weak position relative to BTC. Judging from the ETH/BTC indicator from 2022 to the present, it was in a state of decline from the beginning of 2022 to June, falling from 0.081 to around 0.050. Since then, due to the favorable merger, there has been a rebound, returning to around 0.8 in September 2022. After the merger was implemented, the indicator was in an overall downward trend, currently at 0.058, which is close to the weekly ema200.
However, in the long term, ETH/BTC is in growth mode. Extending the time scale, during the bear market in 2018, ETH/BTC reached a minimum of 0.01, and in the bear market from 2022 to the present, ETH/BTC was recently at 0.05. This is mainly due to the development and growth of the ETH ecosystem, which has accumulated a large amount of on-chain value compared to the previous bear market.