Ethereum’s Price: A Bitcoin Puppet Show

What of the grand promises? Regulatory clarity? Institutional access? Tokenized assets? All fine and dandy, but what good are they when the price chart looks like a drunkard’s scribble on a tavern wall? Bitwise’s model, built on 406 weeks of data, concludes with the bluntness of a hammer: Bitcoin’s coefficient is 0.99, rendering Ethereum’s “fundamentals” as impactful as a whisper in a cannon’s mouth. The network’s active addresses? A mere flicker compared to BTC’s blazing sun. Revenue generation? Removed from the model as one removes a fly from soup-“noise rather than signal,” indeed.




