Ether plunges 13% while Bitcoin pushes BTC dominance to 2022 high — More pain ahead? By Cointelegraph1 min read

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Ether plunges 13% while Bitcoin pushes BTC dominance to 2022 high — More pain ahead?

Ethereum’s native token, Ether (ETH), plunged to its lowest level in almost two months against (BTC) as a crypto market sell-off intensified on May 12.

The trading pair fell by 7.5% to 0.0663 in the past 24 hours. The downside move came as a part of a correction that began May 11 when the pair traded at the local high of 0.0768. That pushed Ether down against BTC by up to 13.75%.

ETH/BTC daily price chart. Source: TradingView
ETH/BTC daily price chart featuring “rising wedge” breakdown setup. Source: TradingView
BTC.D daily performance chart. Source: TradingView