Ethereum faces a crucial test as the ETH/BTC ratio presses against the 0.03 resistance level, which it has failed to break since early Q1. Ethereum hit resistance around $1,900 while Bitcoin struggles at $65,000, with BTC dominance falling below 60%. Despite this, Ethereum has outperformed Bitcoin in Q3, posting gains more than double those of BTC. CryptoQuant’s on-chain signals show selling pressure at historic lows, even below 2022 bear market levels, and institutional flows confirm this shift with $389.7 million in outflows from Bitcoin ETFs versus $6.7 million in inflows to Ethereum ETFs last week. This technical and institutional setup positions Ethereum favorably for a potential breakout above the 0.03 level.
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