Ethereum

Binance data showed that the ETH/BTC rate fell below 0.04 on Saturday, reaching a new low since April 2021. In January 2018, the rate peaked at 0.1238, but it plummeted to 0.01615 in September 2019.Experts have noted and warned of such hazards, but the drop has continued even with ETF permission. The ETH/BTC pair <a href="https://x.com/intangiblecoins/status/1835333743025770918" rel="noopener noreferrer nofollow">fell to 53%</a> since Ethereum&#39;s transition to PoS during the merge in September 2022.This highly anticipated upgrade marked a key moment for <a href="https://cryptotale.org/ethereum-foundation-sells-550-eth-raising-market-concerns/" rel="noopener noreferrer nofollow">Ethereum</a>, shifting from its previous proof-of-work (PoW) consensus mechanism. However, Ethereum has faced further challenges in 2023, including the disappointing performance of spot ETFs. These saw substantial outflows, contributing to the continued decline of Ether.<h2 id="header-0">Why Has Ethereum Dropped?</h2>The decline in the altcoin sell-off trend influenced the general market value of several cryptocurrencies. Should Ethereum&#39;s slowing pace continue, it might settle around 0.33 BTC. Before Ethereum reached its all-time high, the 0.04 BTC mark was a strong barrier.Related: <a href="https://cryptotale.org/bitcoin-ethereum-whale-transactions-drop-since-march-peak/" rel="noopener noreferrer nofollow">https://cryptotale.org/bitcoin-ethereum-whale-transactions-drop-since-march-peak/</a>The recent price swings inside a limited range over two quarters for Bitcoin have damaged investor faith in altcoins. Despite continuous high volatility, many investors now see Bitcoin as a more safe and profitable option. Furthermore, Bitcoin has to first exceed its historical price highs in order to see a large altcoin market surge.<a href="https://cryptotale.org/ethereum-drops-below-0-04-btc-for-the-first-time-since-2021/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Ethereum Drops Below 0.04 BTC for the First Time Since 2021

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