BTCUSDT The ETH/BTC ratio dropped to a five-year low of 0.02193. Ether has fallen 39% relative to bitcoin this year. It's the first time ETH has underperformed BTC in the 12 months after a bitcoin reward halving. The last time ether underperformed bitcoin to a similar degree was in the third quarter of 2019, when the ratio dropped to 0.0164, a quarterly decline of 46%
The latest CME gap between 82,850 - 83,910 is acting as a strong resistance, with BTC remaining in a bearish trend. A failed bullish flag has broken downward, targeting 80,200.
🔻 The breakdown was driven by macroeconomic factors, including new tariffs and a stock market downturn, increasing risk-off sentiment across global markets.
🔻 If 80,200 fails to hold, further downside movement toward lower support levels is likely.
As posted earlier, BTC has officially filled the CME gap today. Eyes now on current support. If that level breaks, next downside target sits around 82,266. Breakdown could trigger further sell pressure, so stay alert. 🤞