Ether-Bitcoin Ratio to Flash Death Cross: What Does It Mean for Altcoins?

The chart of the day is presented by crypto.com, the leading crypto platform trusted by over 80 million users worldwide. Let's take a look at the chart of the day. Alt coin bulls beware. The either Bitcoin ratio is about to flash death cross. A death cross occurs when a short term moving average drops below the long term moving average signaling potential long term bearish shifts in momentum. The ratio's 50 week simple moving average appears on track to cross below the 200 week S ma according to platform trading view, the impending death cross signals risk aversion or prolonged underperformance of Ether and other alt coins relative to Bitcoin. Since 2017, the crypto market has oscillated between Bitcoin led regimes and alt coin led regimes. Alt coin leadership has been characterized by a rising E BT C ratio. In other words, traders take more risks and Ether is outperforming Bitcoin and vice versa. The E BT C ratio has dropped nearly 10% this year. The way Bitcoin and Ether options are currently priced on der a bit. The leading derivatives exchange also points to expectations for Ether underperformance in the near term. That's it for today's chart of the day. I'm Jen Sanas. We'll see you next time to unpack more of the data behind the top news stories.