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The ETH vibes are ‘tough,’ Bitwise CIO says

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The vibes are off for Ethereum right now. And it seems that Vitalik Buterin singing at Token2049 isn’t the bullish signal everyone’s looking for.

But it’s not Buterin’s fault given that Bitwise’s Matt Hougan penned a note on ethereum ahead of the network creator taking the stage.

Hougan pointed out that the ETH/BTC ratio hit its lowest level in three years. ETH has struggled with upward momentum in the past few quarters, unlike both bitcoin and solana. “The vibes in the community are tough,” Hougan wrote.

It’s a fair, if somewhat unfortunate statement given that some believed the momentum around ETH could pick up after ETF approval earlier this year.

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