<ul><li>Ethereum (ETH) has underperformed against Bitcoin, with the ETH/BTC trading pair dropping to the lowest level since mid-2021.</li><li>Technical indicators suggest that ETH might have bottomed against Bitcoin, but caution is advised due to bearish momentum seen on the Moving Average Convergence Divergence (MACD).</li><li>Whales are selling off Ethereum, with large holders and the Ethereum Foundation cashing out, dampening market sentiment.</li><li>Outflows from Ethereum investment products have reached $117M over the past month, signaling a lack of interest in ETH compared to competing cryptocurrencies.</li></ul>

Ethereum Plunges to 3-Year Low Against Bitcoin Amid Whale Sell-Off

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