Ethereum remains under pressure, underperforming bitcoin

Saxo Bank analysts stated in a report: "As geopolitical tensions rise, ETF funds continue to flow out, and attention to macroeconomic risks increases, digital assets remain under pressure as investors reduce their risk exposure." Following the release of strong U.S. economic data recently, people are increasingly betting that the Federal Reserve may raise interest rates this year, further dragging down market sentiment. These Saxo analysts noted that, in the cryptocurrency market, investors favor Bitcoin for its "relative safety." Data from London Stock Exchange Group show that Ethereum fell to an overnight low of $1,717, then most recently dropped 0.6% to $1,767. Bitcoin touched a four-month low of $61,344 overnight and then fell 2.2% to $62,483.