Ethereum (ETH) Reaches 2023 Low Against Bitcoin (BTC)
The ongoing bear market continues to rage on, with Ethereum ( $Ethereum(ETH.CC$ ), the chief altcoin, hitting a new low against Bitcoin ( $Bitcoin(BTC.CC$ ).The $ETH/BTC(ETHBTC.CC$ trading pair has plummeted to a low of 0.059 BTC, a stark contrast from its peak of 0.088 BTC in December 2021.
Ethereum's declining dominance
Ethereum has historically seen its market share decline relative to Bitcoin in bearish conditions. Despite numerous instances when Ethereum came tantalizingly close to "flippening"—a term used to describe Ethereum surpassing Bitcoin in market capitalization—the digital currency has not managed to achieve this milestone yet.
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