Ethereum Price Falls Further Against Bitcoin Even as ETF Outflows End

• Ethereum fell about 3.6% over 24 hours to $2,424 on Wednesday, against 2.1% for Bitcoin, taking ETH/BTC below its Oct. 8 low of 0.0299.

• US spot Ethereum ETFs took in $24.8 million on Tuesday after 10 straight sessions of outflows totaling $782.8 million, Farside data show.

• Bitmine, the largest corporate holder of ETH, says it is 99% of the way to its 5% supply target, and Tuesday's inflow replaced about 3% of the streak.

Ethereum (

) fell about 3.6% on Wednesday, more than Bitcoin's (

) 2.1% drop, and its price against Bitcoin slipped below the Oct. 8 low. Bitfinex had named holding that low as one of two signs of a recovery, and only the other one has arrived.

US spot Ethereum funds took in money on Tuesday for the first time since late September. The inflow replaced a small fraction of what the streak drained, and Bitmine, the largest corporate buyer, says it is nearly done buying. Bitfinex's ratios point to a deeper fall for altcoins than for Bitcoin if Bitcoin breaks its support.

“Confirmation would come from ETH/BTC holding above its 8 October low of 0.0298 and from the nine-session run of Ether ETF outflows coming to an end,” Bitfinex analysts

.

Ethereum traded at about 0.0297 Bitcoin at 11:09 a.m. ET, CoinMarketCap data show.