The bitcoin course does not grow as this bull would like, but an interesting phenomenon can be seen in the ETH/BTC chart.
Bitcoin course is waiting for the Fed?
The Bitcoin course does not grow too much, and currently you can see the correction and the price stabilized in the channel 114,000 – 116,758 USD.
Ether made up to just over 4,500 USD.
The ETH/BTC pair is below 0.04 BTC.
According to Bitget analyst
Ryan Lee, the main analyst at Bitget, believes that it is worth paying attention to the attitude of ETH to BTC:
The ETH/BTC ratio persisted below 0.05 for over a year, even despite the record increases of Ethereum and attracting billions of USD coming from ETF funds, emphasizes the permanent position of Bitcoin as the best means of storage of values among cryptocurrencies. Only in August ETF Ethereum funds received over 4 billion USD, but relatively poor results reflect the greater attractiveness of Bitcoin for conservative investors moving in an uncertain macroeconomic environment. This dynamics emphasizes the role of Bitcoin as the basic value of the industry, while the long -term future of Ethereum lies in the acceleration of adoption of his DEFI ecosystem and tokenization.
What awaits us in the future? Lee believes that “Ethereum ability to reduce the difference in value may depend on the influx of funds to ETF funds exceeding USD 9 billion per quarter and successful implementation of upcoming updates and a significant increase in the value of tokenized assets and Defi volume.”
Such factors could provide ETH with the opportunity to achieve better results than BTC, supplementing the narrative about Bitcoin as a means of storing values with demand driven with utility
he added.
However, the most crucial will be what will happen at the macroeconomics level. Already on Wednesday, the FED will decide what to do with the percentage of – A cut of 25 PB is expected.
Macroeconomic conditions will also affect the forecasts. The expected reduction of interest rates with 25 base points by a federal reserve during the meeting on September 17 will cause a decrease in loan costs and increases liquidity, which will be conducive to risky assets. In this scenario, the price of Bitcoin may increase to USD 150,000–200,000 by the end of the year, and the price of Ethereum may increase to USD 5800–8000 as a result of ETF rotation and network expansion. In total, these trends reflect the maturity of the market, on which Bitcoin and Ethereum drive the industry growth together, provided that inflation will remain under control and no serious geopolitical shocks will occur, which could disturb the mood
Lee summed up.
