ETH/BTC hits a new low, driving U.S. and Korean investors to buy, with bullish signals suggesting potential ETH rally.
As ETH/BTC reaches its lowest point since 2021, investors, particularly from Korea and the U.S., begin to accumulate.has remained above the $3,000 mark for the past month, with a 19.84% gain. However, over the past week, ETH has seen a 2.15% drop.
The ETH/BTC pair, which reflects the value of one ETH in terms of BTC, recently dropped to its lowest level since 2021, dipping below 0.03221, as reported byThis suggests that market participants are receiving less BTC for each ETH, as Bitcoin’s price has surged to a lifetime high, now trading above $97,000.
Alternatively, some investors might view this as an opportunity to accumulate more ETH, believing it is currently undervalued. The Korean Premium Index and Coinbase Premium Index, which track the price differences between Korean exchanges, Coinbase, and other platforms, show that both metrics are currently above 1 and 0, respectively.As of writing, the Korean Premium Index is at 1.37, and the Coinbase Premium Index is at 0.0073, suggesting that these investors are increasing their ETH holdings. If this trend continues, it could drive the token to new highs.
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