ETH price continues to underperform Bitcoin price, and the downside is set to continue.
After rallying to 26% to $3,563 leading into the launch of spot Ethereum ETFs, Ether (ETH) price has underperformed over the last month compared to Bitcoin and the broader crypto market. This underperformance has led traders to question whether the altcoin will have a sustained recovery. ETH price is down 4.3% over the last seven days and 2.11% over the last month.
To put this into context, Bitcoin (BTC) price climbed by 7.7% over the last 30 days, while the total cryptocurrency market capitalization rose by 6.2% over the same period.
and other top layer 1 tokens. BTC's price has rallied 7% over the last 30 days, while other top-cap layer 1 tokens, Solana’s SOL and Cardano’s (ADA), have rallied 27A number of market and technical indicators show that Ether is weakening and may record further losses before embarking on a sustained recovery.
