• bitcoinBitcoin (BTC) $ 65,293.00
  • ethereumEthereum (ETH) $ 3,541.79
  • tetherTether (USDT) $ 0.999748
  • bnbBNB (BNB) $ 603.19
  • solanaSolana (SOL) $ 140.27
  • staked-etherLido Staked Ether (STETH) $ 3,540.99
  • usd-coinUSDC (USDC) $ 1.00
  • xrpXRP (XRP) $ 0.493062
  • dogecoinDogecoin (DOGE) $ 0.125441
  • the-open-networkToncoin (TON) $ 7.02
  • cardanoCardano (ADA) $ 0.393869
  • shiba-inuShiba Inu (SHIB) $ 0.000019
  • avalanche-2Avalanche (AVAX) $ 27.24
  • tronTRON (TRX) $ 0.116777
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 65,473.00
  • chainlinkChainlink (LINK) $ 14.33
  • polkadotPolkadot (DOT) $ 5.94
  • bitcoin-cashBitcoin Cash (BCH) $ 395.46
  • uniswapUniswap (UNI) $ 10.34
  • litecoinLitecoin (LTC) $ 74.20
  • nearNEAR Protocol (NEAR) $ 5.01
  • wrapped-eethWrapped eETH (WEETH) $ 3,690.71
  • matic-networkPolygon (MATIC) $ 0.572629
  • leo-tokenLEO Token (LEO) $ 5.72
  • daiDai (DAI) $ 0.999453
  • pepePepe (PEPE) $ 0.000012
  • internet-computerInternet Computer (ICP) $ 8.33
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 3,554.42
  • kaspaKaspa (KAS) $ 0.147471
  • ethena-usdeEthena USDe (USDE) $ 1.00
  • ethereum-classicEthereum Classic (ETC) $ 23.81
  • fetch-aiFetch.ai (FET) $ 1.30
  • aptosAptos (APT) $ 7.04
  • moneroMonero (XMR) $ 170.21
  • render-tokenRender (RNDR) $ 7.86
  • hedera-hashgraphHedera (HBAR) $ 0.081624
  • mantleMantle (MNT) $ 0.830770
  • stellarStellar (XLM) $ 0.092634
  • cosmosCosmos Hub (ATOM) $ 6.83
  • okbOKB (OKB) $ 42.96
  • crypto-com-chainCronos (CRO) $ 0.094099
  • filecoinFilecoin (FIL) $ 4.45
  • blockstackStacks (STX) $ 1.70
  • arbitrumArbitrum (ARB) $ 0.821751
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.997572
  • immutable-xImmutable (IMX) $ 1.56
  • makerMaker (MKR) $ 2,453.81
  • optimismOptimism (OP) $ 1.95
  • lido-daoLido DAO (LDO) $ 2.35
  • the-graphThe Graph (GRT) $ 0.220003
  • dogwifcoindogwifhat (WIF) $ 2.08
  • bittensorBittensor (TAO) $ 300.80
  • injective-protocolInjective (INJ) $ 21.01
  • suiSui (SUI) $ 0.824740
  • rocket-pool-ethRocket Pool ETH (RETH) $ 3,938.37
  • vechainVeChain (VET) $ 0.026447
  • arweaveArweave (AR) $ 28.36
  • ondo-financeOndo (ONDO) $ 1.21
  • flokiFLOKI (FLOKI) $ 0.000177
  • mantle-staked-etherMantle Staked Ether (METH) $ 3,664.81
  • bitget-tokenBitget Token (BGB) $ 1.16
  • notcoinNotcoin (NOT) $ 0.015729
  • jasmycoinJasmyCoin (JASMY) $ 0.032705
  • fantomFantom (FTM) $ 0.555020
  • based-brettBrett (BRETT) $ 0.153315
  • theta-tokenTheta Network (THETA) $ 1.49
  • bonkBonk (BONK) $ 0.000022
  • thorchainTHORChain (RUNE) $ 4.18
  • whitebitWhiteBIT Coin (WBT) $ 9.53
  • aaveAave (AAVE) $ 87.00
  • celestiaCelestia (TIA) $ 6.52
  • coredaoorgCore (CORE) $ 1.32
  • eosEOS (EOS) $ 0.570075
  • cheeleeCheelee (CHEEL) $ 19.66
  • pyth-networkPyth Network (PYTH) $ 0.314981
  • quant-networkQuant (QNT) $ 78.17
  • algorandAlgorand (ALGO) $ 0.138754
  • ethenaEthena (ENA) $ 0.650679
  • sei-networkSei (SEI) $ 0.356926
  • flare-networksFlare (FLR) $ 0.025291
  • gatechain-tokenGate (GT) $ 8.22
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 3,577.60
  • jupiter-exchange-solanaJupiter (JUP) $ 0.758222
  • galaGALA (GALA) $ 0.028199
  • starknetStarknet (STRK) $ 0.739363
  • beam-2Beam (BEAM) $ 0.019394
  • kucoin-sharesKuCoin (KCS) $ 9.89
  • flowFlow (FLOW) $ 0.620033
  • zebec-protocolZebec Protocol (ZBC) $ 0.018097
  • pendlePendle (PENDLE) $ 5.74
  • bitcoin-svBitcoin SV (BSV) $ 44.21
  • tokenize-xchangeTokenize Xchange (TKX) $ 10.91
  • axie-infinityAxie Infinity (AXS) $ 5.92
  • dydx-chaindYdX (DYDX) $ 1.44
  • bittorrentBitTorrent (BTT) $ 0.00000088
  • gnosisGnosis (GNO) $ 324.51
  • zksyncZKsync (ZK) $ 0.227023
  • ethereum-name-serviceEthereum Name Service (ENS) $ 26.37
  • elrond-erd-2MultiversX (EGLD) $ 30.36
  • ordinalsORDI (ORDI) $ 38.45
  • neoNEO (NEO) $ 11.42
  • roninRonin (RON) $ 2.39
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 3,547.69
  • tezosTezos (XTZ) $ 0.774743
  • msolMarinade Staked SOL (MSOL) $ 168.58
  • the-sandboxThe Sandbox (SAND) $ 0.323090
  • usddUSDD (USDD) $ 0.999269
  • chilizChiliz (CHZ) $ 0.081624
  • akash-networkAkash Network (AKT) $ 2.99
  • nexoNEXO (NEXO) $ 1.28
  • fasttokenFasttoken (FTN) $ 2.21
  • frax-etherFrax Ether (FRXETH) $ 3,543.77
  • singularitynetSingularityNET (AGIX) $ 0.538714
  • worldcoin-wldWorldcoin (WLD) $ 2.84
  • wormholeWormhole (W) $ 0.375297
  • havvenSynthetix Network (SNX) $ 2.01
  • oasis-networkOasis Network (ROSE) $ 0.096902
  • lido-staked-solLido Staked SOL (STSOL) $ 167.12
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 3,800.54
  • fraxFrax (FRAX) $ 0.997621
  • dexeDeXe (DEXE) $ 11.23
  • ecasheCash (XEC) $ 0.000032
  • mina-protocolMina Protocol (MINA) $ 0.568492
  • dog-go-to-the-moon-runeDOG•GO•TO•THE•MOON (Runes) (DOG) $ 0.006235
  • conflux-tokenConflux (CFX) $ 0.151391
  • swethSwell Ethereum (SWETH) $ 3,741.55
  • decentralandDecentraland (MANA) $ 0.331625
  • livepeerLivepeer (LPT) $ 18.76
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.31
  • klay-tokenKlaytn (KLAY) $ 0.164133
  • book-of-memeBOOK OF MEME (BOME) $ 0.008661
  • heliumHelium (HNT) $ 3.54
  • rocket-poolRocket Pool (RPL) $ 28.60
  • apecoinApeCoin (APE) $ 0.927315
  • aioz-networkAIOZ Network (AIOZ) $ 0.532295
  • tether-goldTether Gold (XAUT) $ 2,333.57
  • mantra-daoMANTRA (OM) $ 0.690762
  • iotaIOTA (IOTA) $ 0.171357
  • safeSafe (SAFE) $ 1.31
  • staked-frax-etherStaked Frax Ether (SFRXETH) $ 3,850.53
  • 1inch1inch (1INCH) $ 0.432029
  • xdce-crowd-saleXDC Network (XDC) $ 0.034724
  • terra-lunaTerra Luna Classic (LUNC) $ 0.000092
  • kavaKava (KAVA) $ 0.463401
  • true-usdTrueUSD (TUSD) $ 0.995902
  • illuviumIlluvium (ILV) $ 73.90
  • nervos-networkNervos Network (CKB) $ 0.010920
  • theta-fuelTheta Fuel (TFUEL) $ 0.070523
  • stader-ethxStader ETHx (ETHX) $ 3,636.11
  • axelarAxelar (AXL) $ 0.657208
  • blurBlur (BLUR) $ 0.266782
  • constitutiondaoConstitutionDAO (PEOPLE) $ 0.087077
  • curve-dao-tokenCurve DAO (CRV) $ 0.350631
  • iotexIoTeX (IOTX) $ 0.046009
  • bitcoin-goldBitcoin Gold (BTG) $ 24.51
  • pax-goldPAX Gold (PAXG) $ 2,315.03
  • apenftAPENFT (NFT) $ 0.00000043
  • corgiaiCorgiAI (CORGIAI) $ 0.001235
  • trust-wallet-tokenTrust Wallet (TWT) $ 1.02
  • magaMAGA (TRUMP) $ 8.89
  • woo-networkWOO (WOO) $ 0.216788
  • aevo-exchangeAevo (AEVO) $ 0.488942
  • pepecoin-2PepeCoin (PEPECOIN) $ 3.48
  • echelon-primeEchelon Prime (PRIME) $ 9.94
  • usdbUSDB (USDB) $ 1.00
  • paypal-usdPayPal USD (PYUSD) $ 0.998664
  • compound-ethercETH (CETH) $ 71.07
  • raydiumRaydium (RAY) $ 1.52
  • astarAstar (ASTR) $ 0.069117
  • wemix-tokenWEMIX (WEMIX) $ 1.08
  • ether-fiEther.fi (ETHFI) $ 3.37
  • arkhamArkham (ARKM) $ 1.66
  • dydxdYdX (ETHDYDX) $ 1.44
  • aerodrome-financeAerodrome Finance (AERO) $ 0.775426
  • ioio.net (IO) $ 3.94
  • golemGolem (GLM) $ 0.373871
  • memecoin-2Memecoin (MEME) $ 0.018195
  • kusamaKusama (KSM) $ 24.45
  • cat-in-a-dogs-worldcat in a dogs world (MEW) $ 0.004127
  • mx-tokenMX (MX) $ 3.74
  • osmosisOsmosis (OSMO) $ 0.543073
  • safepalSafePal (SFP) $ 0.778763
  • sats-ordinalsSATS (Ordinals) (SATS) $ 0.00000017
  • aragonAragon (ANT) $ 8.95
  • ocean-protocolOcean Protocol (OCEAN) $ 0.547011
  • polymeshPolymesh (POLYX) $ 0.335771
  • stepnGMT (GMT) $ 0.163505
  • compound-governance-tokenCompound (COMP) $ 50.39
  • radixRadix (XRD) $ 0.032604
  • mog-coinMog Coin (MOG) $ 0.00000092
  • manta-networkManta Network (MANTA) $ 1.02
  • compound-wrapped-btccWBTC (CWBTC) $ 1,310.33
  • zilliqaZilliqa (ZIL) $ 0.017404
  • holotokenHolo (HOT) $ 0.001811
  • celoCelo (CELO) $ 0.589161
  • superfarmSuperVerse (SUPER) $ 0.698484
  • zcashZcash (ZEC) $ 20.84
  • metis-tokenMetis (METIS) $ 54.98
  • liquid-staked-ethereumLiquid Staked ETH (LSETH) $ 3,686.32
  • ankrAnkr Network (ANKR) $ 0.030862

Why Bitcoin (BTC) and Ethereum (ETH) May Choose Different Paths

0 15

The correlation between Bitcoin (BTC) and Ethereum (ETH) continues to whisk further apart with the latter failing to take dominance of BTC. At the beginning of the year, one BTC would have cost roughly 14 ETH.

However, altcoin’s unimpressive price action has ensured that 1 BTC equals 18 ETH. At press time, Bitcoin’s price was $67,628 while ETH was valued at $3,789. The different directions the cryptocurrencies headed were also reflected in the market liquidation.

According to Coinglass, $14.12 million worth of ETH contracts were wiped out in the last 24 hours. Most of these positions were longs. However, Bitcoin liquidations were lower at $3.20 million, of which most were short positions.

Crypto Market Liquidations HeatMap (Source: Coinglass)

Coin Edition looked at the ETH/BTC chart which is an important metric in the crypto market. From our observation, the ratio became as high as 0.057 on May 21. This was partly due to the Ethereum spot ETF approvals.

However, data obtained from TradingView showed that the dominance has decreased. As of this writing, ETH was worth 0.055 BTC. Analysis of the chart showed that there was a resistance at 0.051 which ETH bulls have been able to breach.

However, if care is not taken, a decline in ETH’s price could pull the ratio down to the resistance. Failure to hold on to this point could lead it down to 0.048 where the crucial support stood.

A look at indicators like the Awesome Oscillator (AO) reinforced the assertion that ETH’s dominance could continue to drop. As of this writing, the AO was positive, indicating the momentum was bullish.

However, the red histogram bars on the indicator suggested that this bullish thesis might not last. Furthermore, the Relative Strength Index (RSI) reading dropped after hitting an overbought region.

Why Bitcoin (BTC) and Ethereum (ETH) May Choose Different Paths

ETH/BTC Daily Chart (Source: TradingView)

From the look of things, BTC’s price could attempt to rise to $70,000. However, ETH might decline following in the upward direction, suggesting that its price could fall to $3,500.

On the flip side, things might change in ETH’s favor when the spot ETFs start trading live. If we go by the impact of the Bitcoin spot ETFs on BTC, then ETH might rally toward $4,500 in a matter of weeks.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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