Ether-Bitcoin Ratio Drops to 15-Month Low as ETFs Fail to Uplift Sentiment
The ratio has declined nearly 30% since Ethereum’s Merge upgrade in September 2022.
The ratio has declined nearly 30% since Ethereum’s Merge upgrade in September 2022.
The bid-ask ratio in bitcoin and ether options markets leans below one, signaling a bias for volatility selling, one observer said.
SEC approval of a U.S.-listed spot bitcoin ETF could result in inflows of as much as $30 billion, a report by the crypto services provider said.
The crypto is on track for gains on Friday despite bearish U.S. jobs numbers which initially sent it down nearly 2%.
Veri shows that broader crypto markets lost just under 1% in the past 24 hours.
The futures contracts will trade on the Montreal Exchange and will be cash-settled and denominated in U.S. dollars, the exchange said.
“Pretty meh volume” for the group, said one analyst.
The last time BTC posted a positive return during September was in 2016.
Traders at Japanese exchange Bitbank said in a daily note that they expect bitcoin prices to move towards the $28,000 level, citing ETF optimism.
Investors could see outsized gains by buying a diversified portfolio of publicly listed mining companies, the report said.