Macroeconomist Lyn Alden, known for her skepticism toward Ethereum, expressed surprise at its poor performance against Bitcoin. This reaction came despite a presidential election outcome she believed would benefit Ethereum. In a Nov. 17 post on X, Alden shared that she has always been a cautious long-term skeptic of Ethereum, but the post-election drop in ETHBTC has hit even harder than expected.
She expressed surprise that despite the Trump administration’s openness to crypto securities, Ether’s performance against Bitcoin weakened after the election results were announced. Lyn remarked that ETH/BTC spiked initially but then dropped. It’s hitting new lows even after positive news. On Nov. 15, just days after the election, Ethereum’s performance against Bitcoin hit its lowest point.
ETH/BTC drops despite positive inflows
TradingView data shows that the ETH/BTC ratio dropped to 0.033, a level last seen in Mar. 2021. Over the same period, Ethereum has gained 17%, reaching $3,107, while Bitcoin has surged by about 31%, climbing to $90,423, according to CoinMarketCap. Since Trump’s victory, U.S. spot Ethereum exchange-traded funds (ETFs) have attracted around $751.8 million in total inflows.
However, Ether has recently fallen below its longest-standing support level against Bitcoin. This has prompted leading analysts to suggest that Ethereum could be “facing a slow decline.” Consensys CEO Joe Lubin has expressed a more positive outlook on Ethereum’s future after the election results. According to him, Ether stands to gain more from Trump’s presidential win than any other blockchain protocol. Lubin said.
America has had its boot on the neck of Ethereum for a pretty long time, specifically Ethereum, and that’s caused a bunch of FUD. Redstone co-founder and COO Marcin Kaźmierczak recently shared that the Trump administration might promote policies that take DeFi from a niche concept to a mainstream financial solution.
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