Bitcoin-Ether ratio flashes potential warning about crypto rally
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The ratio between the price of Bitcoin and Ether has reached its highest level since April 2021, indicating a possible waning of risk appetite in the crypto market. This could be an early signal of fear replacing FOMO (fear of missing out) if Ether is seen as a proxy for sentiment towards smaller tokens. Bitcoin reached a record high in mid-March but has since retreated about 9%, while smaller digital assets have slumped even more. Analysts suggest that a potential Bitcoin top and a loss of appetite for cryptocurrencies could signal a weaker market overall. Traders are now awaiting the Bitcoin halving event, which reduces new supply of the token, to see if it will have a bullish impact. Bitcoin is currently trading at $67,825, while Ether is at $3,340.

#Bitcoin #Ether #CryptoRally #RiskAppetite #Fomo #Sentiment #BitcoinHalving

https://m.economictimes.com/markets/cryptocurrency/bitcoin-ether-ratio-flashes-potential-warning-about-crypto-rally/articleshow/109099960.cms