Odaily星球日报讯 据 IntoTheBlock 披露，以太坊（ETH）兑比特币（BTC）的交易价格已降至 40 个多月以来的最低水平，比特币 ETF 资金流入大多呈正值，而以太坊则经历了持续的资金外流，相关趋势表明，机构投资者更青睐比特币相对稳定的特性，而非以太坊高风险、高回报的投资组合。

IntoTheBlock：ETH/BTC汇率创40个月新低

Odaily Odaily reported that according to IntoTheBlock, the trading price of Ethereum (ETH) against Bitcoin (BTC) has dropped to its lowest level in more than 40 months. Bitcoin ETF fund inflows are mostly positive, while Ethereum has experienced sustained fund outflows. Related trends show that institutional investors prefer the relatively stable nature of Bitcoin rather than Ethereum&#39;s high-risk, high-return investment portfolio.

IntoTheBlock: ETH/BTC exchange rate hits 40-month low

According to a report by Steno Research on Thursday, the recent underperformance of Ethereum (ETH) may have come to an end, and ETH could shine again, whether in terms of fiat currency exchange rate or BTC exchange rate. The report pointed out that during the previous Altcoin season, ETH rose sharply, with the ETH/BTC exchange rate more than doubling in less than two months. This change was driven by a surge in on-chain activity, including the flourishing of decentralized finance (DeFi), stablecoin issuance, and Non-Fungible Tokens (NFTs), all of which mainly occurred on the Ethereum blockchain. The recent interest rate cut by the Federal Reserve earlier this week is expected to lead to an increase in on-chain activity, which will greatly benefit Ethereum.

Steno Research: ETH's decline is over, interest rate cuts are good for Ethereum

Odaily Planet Daily Report: The well-known cryptocurrency research institution 10x Research posted on the X platform that Bitcoin remains one of the most attractive assets in terms of risk/return potential. After warning of the downside risks since the 3-4 month peak in Bitcoin, the institution has taken a tactically optimistic stance after the sharp decline in Bitcoin. Previous reports published have supported its more optimistic outlook on the surge in Bitcoin. 

Furthermore, a breakout of the Bitcoin downtrend line may indicate stronger upward momentum, potentially pushing Bitcoin above the 21-week simple moving average (US$60,996), which is a key indicator in determining whether it is in a bull market (above) or a bear market (below). Breaking this level would set a target of US$65,000 (which is now within reach). It is worth noting that the current trading signals have increased long positions to a net long position of 70% for the first time. Based on historical pattern analysis, this shift indicates that Bitcoin and Ethereum may provide attractive buying opportunities over the next 2-3 months.

10x Research: Bitcoin and Ethereum may offer attractive buying opportunities in 2-3 months

Odaily reports that Bitwise Chief Information Officer Matt Hougan stated that ETH seems to have been neglected, but as the year draws to a close, its poor price performance may be reversed. The report suggests that ETH's recent poor performance is due to risks related to the US presidential election in November, increased competition from Solana and other blockchains, challenges in token economics, and mixed reactions to the potential launch of a spot trading platform exchange-traded fund (ETF) in the US. Hougan pointed out that as the November election approaches and regulations become clearer, the market may re-evaluate Ethereum. Currently, Ethereum appears to be a potential contrarian investment choice by the end of this year.