CryptoQuant: ETH's valuation relative to BTC hits new low since 2019

CryptoQuant stated on social media that the current valuation of ETH compared to BTC has dropped to its lowest level since 2019. Historical data shows that this situation typically leads to ETH outperforming BTC. However, ETH in the current market faces supply pressure, weak demand, and lackluster on-chain activity, which may hinder its price rebound process.

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