📉 Ethereum Nears Cycle Bottom vs Bitcoin
Ethereum is approaching the market cycle bottom relative to Bitcoin, but analysts at CryptoQuant say a reversal is not yet confirmed.
The coin trades 17% below its realized price, the average cost of ETH in circulation. Out of five key metrics studied, only two have reached previous low levels.
Selling pressure is easing, and the share of Ethereum in staking has hit 34%.
However, the market-to-realized value ratio (MVRV) remains above levels typical for past bottoms. Analysts have not yet observed final market participant capitulation.
Ethereum is approaching the market cycle bottom relative to Bitcoin, but analysts at CryptoQuant say a reversal is not yet confirmed.
The coin trades 17% below its realized price, the average cost of ETH in circulation. Out of five key metrics studied, only two have reached previous low levels.
Selling pressure is easing, and the share of Ethereum in staking has hit 34%.
However, the market-to-realized value ratio (MVRV) remains above levels typical for past bottoms. Analysts have not yet observed final market participant capitulation.
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