ETH to BTC market cap ratio drops to 24.52%, lowest since April 2021

Golden Finance reported that according to data from The Block, the market value ratio of ETH to BTC has fallen to 24.52%, the lowest level since April 2021, a sharp drop from 32.7% at the beginning of 2024.

It is reported that this indicator is an indicator of relative market sentiment and capital flows between the two major cryptocurrency assets. This decline reflects Bitcoin's growing dominance in price performance and institutional interest, especially as investors continue to accept cryptocurrencies through ETF products. Traditional financial companies have shown a clear preference for Bitcoin, with IBIT and other Bitcoin ETFs attracting a large amount of capital inflows, while Ethereum ETF products have received relatively little interest.