Ethereum's (ETH) price has made a significant recovery, bouncing back by 300% from its 2022 cycle low of $880. Despite this impressive rally, Ethereum continues to lag behind Bitcoin (BTC) in terms of comparative strength. The ETH/BTC ratio, as observed from Glassnode's data, has been declining steadily since mid-2022, indicating Bitcoin's dominance in the current cycle.
As of February 2, Ethereum is trading at $3,107, according to Coingecko. The crypto community is left pondering Ethereum's next move, given its underperformance against its primary rival, Bitcoin.
Source: www.thecoinrepublic.com ↗