FOMO becomes fearful of the cryptocurrency boom or faces cooling down
2024-04-05 08:56:32
The price ratio of Bitcoin, the largest cryptocurrency, to Ethereum, the second largest, suggests that the market's risk appetite for cryptocurrencies may weaken. The ratio of Bitcoin to Ethereum prices has risen to 20, reaching the highest level since April 2021, reflecting a more flexible market demand compared to Bitcoin, while the opposite is true for Ethereum. According to cryptocurrency trading company QCP Capital, if Ethereum reflects market sentiment towards smaller tokens, the latest data may be a "very early signal" that FOMO sentiment (fear of missing out) has turned into fear. As the demand for Bitcoin spot ETFs cools, Bitcoin has fallen by about 9% from its new high. A measure of small digital assets fell by about 20% during the same period. As investors lose interest in cryptocurrencies, Bitcoin may peak, including Stifel Nicolaus& from Barry Bannister; The Co strategist wrote, "This may also suggest that the stock market will weaken."< Img src=“ https://flash-scdn.jin10.com/8943cf66-929a-4dbf-bb76-38160d5c554b.png "Refererpolicy=" no referrer ">
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