Ether nears cycle bottom vs Bitcoin as onchain demand recovers — CryptoQuant
The article highlights that ETH is approaching a cycle low relative to Bitcoin, with onchain data showing easing sell pressure and modest demand recovery. However, CryptoQuant notes that a confirmed bottom has not emerged, keeping the outlook uncertain.
- • ETH trading below realized price
- • Onchain indicators of easing selling pressure and recovering demand
- • Lack of definitive bottom confirmation
- • Potential for further BTC outperformance if risk appetite remains low
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What does the ETH/BTC ratio indicate about the broader crypto market?
A bottoming ETH/BTC ratio often signals renewed risk appetite and capital rotation from Bitcoin into altcoins, which can precede broader altcoin rallies.
How reliable is the realized price as a bottom signal for ETH/BTC?
While ETH trading below its realized price has historically marked major lows, it is not a standalone indicator. Confirmation from other onchain metrics and price action is needed to reduce false signals.
What would invalidate the nearing bottom thesis for ETH/BTC?
A continued decline in the ETH/BTC ratio accompanied by rising exchange inflows and stagnant onchain activity would suggest selling pressure persists and the bottom is not yet in place.