How low can Ethereum price drop versus Bitcoin amid the DeFi contagion?

Cointelegraph

Published Jun 26, 2022 09:45AM ET

Updated Jun 26, 2022 11:20AM ET

Ethereum's native token Ether (ETH) has declined by more than 35% against Bitcoin (BTC) since December 2021 with a potential to decline further in the coming months.

ETH/BTC weekly price chart. Source: TradingView

The ETH/BTC pair's bullish trends typically suggest an increasing risk appetite among crypto traders, where speculation is more focused on Ether's future valuations versus keeping their capital long-term in BTC.

h3 Ethereum TVL wipe-out/h3
Ethereum TVL performance since 2019. Source: DeFi Llama
h3 Bitcoin struggling but stronger than Ether/h3
Investment flows into/out of crypto funds by assets. Source: CoinShares
ETH/BTC weekly price chart. Source: TradingView

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