BitMEX CGO: ETH/BTC has currently retraced all gains since the EIP-1559 upgrade in 2021

ChainCatcher news, BitMEX CGO Raphael stated that ETH/BTC has currently retraced all the gains since the EIP-1559 upgrade to a deflationary mechanism in 2021. Bitcoin consistently outperforming Ethereum is becoming a fundamental expectation in the market. The inflow of funds into Bitcoin ETFs is often more than 100 times that of Ethereum.

MicroStrategy continues to raise billions of dollars to purchase Bitcoin, and some large publicly listed companies (such as Tesla) also hold Bitcoin instead of Ethereum.