ETH/BTC slips to 0.0293 after five straight weeks of losses
- —ETH trades near $2,400, up 2.5% on the day; BTC at $81,941, up 1.5%
- —ETH fell 4.7% over the week versus 1.0% for BTC; 9.7-point gap over 30 days
- —ETH market cap of $293.2B equals 17.8% of bitcoin's value
- —ETH sits 51.5% below its $4,946 record; BTC is 35% below its peak
Why it matters: ETH's underperformance versus BTC signals capital rotating into bitcoin; a break of 0.0289 would put ETH near $2,368 at current BTC prices.
Source: CryptoTicker