FxPro senior analyst: ETH/BTC exchange rate may fall to the 0.02-0.03 range

BlockBeats news, on September 16, FxPro senior analyst Alex Kuptsikevich said, "Long-term, the activity of Ethereum developers, whether in the blockchain itself or its expanding ecosystem, is the reason for the pump of ETH. However, by the end of 2023, this trend shifted to BTC, with the increasing prominence of ETF in the exchange. It is important to note that the launch of ETH ETF did not attract buying interest similar to BTC ETF, but led to net outflows, and also did not reverse the declining trend of ETH/BTC Exchange Rate. The ETH/BTC Exchange Rate may further fall into the 0.02-0.03 range. Considering the overall positive sentiment of investors towards alts in the months after the BTCHalving, and the higher beta coefficient of alts with the US stock market, this situation is surprising, given the strong performance of the US stock market in recent months." (CoinDesk)