$ETHBTC: Ratio bottomed

I think we might be seeing some rotation out of Bitcoin ETFs into Ethereum positions, possibly front running the ETF approval next week, but also hedging the supply overhang from Mt Gox coins + Germany's seized BTC stash hitting the market.

Ratio chart is bullish in the daily and could easily turn bullish in the weekly, while monthly chart shows a monthly down trend expiring during July, which could predict mean reversion back to 0.07 BTC per ETH.

I've hedged some of my crypto risk due to a weekly down trend signal triggering in BTCUSD, using OTM put options, so I am more confident in weathering a potential storm, but don't discount the possibility of Bitcoin rebounding in tandem with ETHUSD rallying after the ETF goes live next Tuesday. (it sure rallied when the approval news came out)

Best of luck!

Cheers,

Ivan Labrie.