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TechFlow reports, on May 8, CryptoQuant posted on social media stating that ETH's current valuation relative to BTC has dropped to the lowest level since 2019. Historical data shows that such situations typically lead to ETH outperforming BTC. However, in the current market, ETH faces challenges including supply pressure, weak demand, and sluggish on-chain activity, which may hinder its price recovery.
CryptoQuant posted on social media stating that ETH's valuation relative to BTC has dropped to its lowest level since 2019. Historical data shows that such situations typically lead to ETH outperforming BTC. However, current market conditions—such as supply pressure, weak demand, and lackluster on-chain activity—could hinder ETH's price recovery.
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