Odaily Planet Daily News FxPro senior analyst Alex Kuptsikevich said, "In the long run, the activity of Ethereum developers, both in the blockchain itself and in the expanding ecosystem around it, is the reason for the rise of ETH. However, by the end of 2023, the trend turned to Bitcoin, as the prospect of exchange-traded funds (ETFs) became more prominent. It should be noted that the launch of the Ethereum ETF did not attract similar buying interest as the Bitcoin ETF, but instead led to net outflows, and did not reverse the downward trend in the ETH/BTC exchange rate. The ETH/BTC exchange rate has the potential to fall further into the 0.02-0.03 range. This is surprising considering the overall positive sentiment of investors towards altcoins a few months after the Bitcoin halving and the higher beta coefficient of altcoins with U.S. stocks, which have performed quite strongly in recent months." (CoinDesk)