Crypto: Ethereum sinks to five-year low against Bitcoin, investors flee to safer bets

Ethereum’s ether (ETH), the second-biggest cryptocurrency, is down 39 per cent against bitcoin (BTC), hitting its weakest level in almost five years.

Right now, 1 ETH is worth just 0.02191 BTC — the lowest since May 2020. Back then, Ether was around $200, and Bitcoin was just under $10,000. ETH is about $1,800, while BTC skyrocketed to $82,000.

This decline is unusual because ETH performs well after Bitcoin’s “halving” — a major event that reduces the number of new BTC entering the market.