ETH/BTC Ratio Tanks 5%—Is This the Calm Before a Massive Surge or the Start of a Steep Crash?
In fact, such a shift reflects a temporary breakdown in Ethereum’s relative strength. Worth noting, however, that does not guarantee a long-term rejection just yet. In fact, the same exact setup already played out earlier this year.
Could May-style FOMO spike again?
Back in early May, ETH saw a sudden volume surge in spot, derivatives and social mentions — All spiking at once. Most traders saw it as a breakout confirmation. On the contrary, however, it marked a local top.
At the time of writing, something similar seemed to be coming into play. ETH’s recent trading volume spiked aggressively — again driven by FOMO — and it soon preceded a ratio dump. Here is where it gets interesting though as when those metrics started to cool off, the market reset.
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