$CME Bitcoin - main 2405(BTCmain)$ have been on the downward trend, and Bitcoin is just trading above the 60K level at time of writing. There have been growing divergence in performance between Bitcoin and Ethereum during the 2023-24 cycle thus far. We are seeing this divergence manifest as weaker price performance for Ethereum, this is due to the weaker market capital rotation trend, as we can see in the below charts, BTC and ETH are having a lower relative to past cycles and ATH breaks. Initial Sell-Off From Fourth Bitcoin Halving We saw the fourth bitcoin halving leading to a sell-off initially with BTC prices falling to $57k before recovering swiftly. This recorded the lowest pullback since the FTX saga lows. Ethereum saw similar price