Over the past 60 days, the ETH/BTC pair has seen a 12% increase, an impressive performance given the current market volatility. Moreover, its Exponential Moving Average , a popular technical indicator used by traders to gauge market trends, is about to perform a golden cross. This occurs when a short-term moving average crosses above a long-term moving average, often seen as a bullish signal in technical analysis.But it is not just the technical indicators that make this pair intriguing.
Interestingly, Ethereum has begun to outperform Bitcoin during certain risk-off events, a phenomenon rarely observed on the crypto market. This shift could suggest growing investor confidence in Ethereum's long-term prospects, bolstered by the successful upgrades and the ecosystem's ongoing development.Nonetheless, the ETH/BTC pair's performance offers an essential viewpoint for assessing the health and direction of the crypto market.