While crypto traders have been emboldened by Bitcoin’s impressive rally, especially in light of the SEC’s recent lawsuits against major crypto exchanges Binance and Coinbase, one key trading pair has nevertheless suffered as a result. Ethereum/Bitcoin (ETHBTC), the widely watched trading pair which combines the crypto market’s number two coin with its number one coin by market cap, just closed at a 300-day low. Why is this happening and what’s happened in the past after similarly weak periods for ETHBTC? Let’s take a closer look at the price history to find out. Bitcoin’s Dominance Explodes Higher Just a few weeks ago, ETHBTC closed at a multi-week high and looked poised to move higher, but the recent surge in Bitcoin Dominance caused ETHBTC to hit a 300-day low, just shy of a new 52-week low. The popular Dominance metric can be calculated for any crypto market asset and is simply a measure of any coin or token’s share of the total cryptocurrency market’s capitalization, expressed as a percentage. Bitc ..
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