While April saw a broad market recovery, the underlying supply-demand dynamics have exposed a growing gap between the two leaders. π BTC successfully reclaimed the $80,000 mark in May, driven by strong institutional accumulation and consistent exchange outflows.
In contrast, ETH has struggled to maintain its pace, with its price action described as "reactive and supply-driven."
The data is telling: the ETH/BTC ratio has slumped to 0.02934, a 4.37% decline over the last month. π‘ On-chain metrics from CryptoQuant show that while Bitcoin's rally is fueled by persistent demand, Ethereum is still being weighed down by erratic exchange netflows and a lack of fresh capital preference.
As we head deeper into Q2, the consensus is shifting: Bitcoinβs structural strength makes it the clear favorite to outperform, leaving Ethereum to fight for altcoin leadership. π
