Ether Slumps 43% Against Surging Bitcoin as Traders Bet on BTC ETF and 2024 Halving
• Ethereum's ether has fallen 43% against bitcoin since Sept. 7 to its lowest level since April 2021 • Bitcoin has gained 81% over the same period, fueled by enthusiasm over potential US approval of a spot bitcoin ETF • Bitcoin's share of the total crypto market cap (bitcoin dominance) has risen from 39% to 54% over the past 14 months • Bitcoin's increase against altcoins is attributed to hopes for a spot BTC ETF and the upcoming bitcoin halving event • Ethereum has fallen out of the spotlight after its proof-of-stake transition, with total value locked in DeFi protocols lower than April 2021