🚀 In the crypto world, the ETH/BTC rate is deviating from historical norms! 📉 This ratio is an important indicator that shows the capital transformation and risk appetite in the market. But despite the bull market starting at the end of 2022, the rate continues to fall unexpectedly. 😲

🔍 According to the latest report by Glassnode and CME Group, there are two reasons for this situation:

1️⃣ The approval of spot Bitcoin ETFs in the US in January 2024 significantly increased buying pressure for the leading crypto.

2️⃣ Secondly, intense competition between Proof-of-Stake (PoS) blockchains challenges Ethereum's dominance in areas such as liquidity, capital attraction, user experience and especially scalability.

However, experts predict that this downward trend may reverse with the introduction of spot Ether ETFs in the country. 🔄

Investors can't wait to see Ethereum ETFs. This week, several major asset managers filed revised spot ETH ETF S-1 registration statements with the U.S. Securities and Exchange Commission (SEC). 📝

Ethereum's current Market Cap to Realized Value (MVRV) ratio shows increasing profitability and is in the recovery and bull market phase. 📈

So, do you think the price of Ethereum is entering a bull market? We are waiting your comments! 🎤💬