Ethereum's Bitcoin Ratio Nears Bottom, Fed Policy Hangs in Balance

Crypto analyst Benjamin Cowen has warned that Ethereum (ETH) is nearing its bottom against Bitcoin (BTC). In a recent YouTube video, Cowen, who has over 877,000 subscribers, suggested that the ETH/BTC pair could find its cycle low under 0.017 ($2,181) by the end of the year.

Cowen noted that the ETH/BTC market cap ratio is approaching its lows, indicating a potential bottom. However, he also mentioned that if the US Federal Reserve were to halt its quantitative tightening policy, the ETH/BTC pair could bottom out immediately. Quantitative tightening involves central banks reducing their budgets to decrease money circulation and combat inflation.

Cowen believes that the ETH/BTC pair may not experience a durable rally until quantitative tightening ends. He expects that once the policy is over, the pair will likely rally back up to the bull market support band.

Currently, ETH/BTC is trading at 0.0264 ($2,227), a 3.2% decrease from the previous 24 hours. As the crypto market continues to evolve, investors should stay informed about the potential impacts of central bank policies on cryptocurrency pairs like ETH/BTC.