Odaily Planet Daily News Since the Federal Reserve cut interest rates by 50 basis points last month, the price of Bitcoin has risen by 14%, briefly surpassing $69,500 on Monday morning. This is attributed to strong inflows into spot ETFs and improved risk sentiment. Although Ethereum has benefited from similar macroeconomic factors, its performance has still lagged behind Bitcoin, rising about 12% since the Federal Reserve rate cut on September 18. Additionally, according to a report released by Kaiko Research on Monday, the ETH/BTC exchange rate has fallen to its lowest level since April 2021, dropping below 0.04 in October. The report noted that this decline highlights the slower institutional adoption rate of Ethereum compared to Bitcoin. Analysts say that the persistent gap in performance between Ethereum and Bitcoin can largely be attributed to the latter's first-mover advantage in dominating institutional investors. They pointed out that the open contract positions for Bitcoin CME futures recently hit an all-time high, while CME's Ethereum futures remain relatively low at 7,300 contracts (nominal value of $970 million). The report states: 'Demand for Ethereum in the spot market has also been sluggish. In October, Ethereum's trading volume was less than most altcoins. The trading volume gap between Ethereum and the top 50 altcoins has widened to its highest level since March.' (The Block)