Bitwise: Ethereum is currently in one of its "most deeply undervalued ranges" in years

The encrypted asset management company Bitwise analysis pointed out that Ethereum is currently in one of the "most deeply undervalued ranges" for many years. Andre Dragosch, Director of Research at Bitwise Europe, stated that there is a fundamental pricing bias for Ethereum relative to on-chain activity and adoption indicators.

Data shows that the Ethereum-to-Bitcoin ratio has fallen to 0.027, down 47% from the same period last year. Although Bitcoin has risen by 3.72% since this year, Ethereum has fallen by 20%.

However, Bitwise analysis states that historical data shows that Ethereum has achieved positive returns against Bitcoin in seven out of the past eight years in February, which may indicate an upcoming rebound.