Divergent On-chain Trends Within Ethereum/Bitcoin Network Add to Reasons Why the ETH/BTC Price Might Continue Dropping

The exchange rate between Bitcoin (BTC), the world’s first and largest cryptocurrency by market capitalization, and Ether (ETH), the world’s second-largest cryptocurrency by market capitalization that powers the Ethereum blockchain

ETH/BTC’s downside isn’t a result of Ether performing poorly. On the contrary, at current levels in the $1,750s, Ether is up just shy of 10% this month and is up over 27% versus earlier monthly lows under $1,400.

Bitcoin has been leading a charge higher in cryptocurrency markets amid what analysts have referred to as a “safe haven” bid as cracks form in the global banking system.

But Bitcoin, which many refer to as “digital gold”, is increasingly viewed as a safe haven.

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