# 汇率

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Is the ETH/BTC exchange rate dropping to a 3-year low—time to buy the dip in Ethereum?
The ETH/BTC exchange rate fell below 0.045 today, hitting a new low since 2023. At the same time, Ethereum’s gas fees dropped to below 5 gwei, and on-chain activity is quiet, but this often signals the beginning of a bottoming phase.
Three observation points:
1. Whale movements: Over the past week, the number of addresses holding 1000+ ETH increased by 12, and big money is quietly accumulating.
2. Catalyst expectations: After the Cancun upgrade, the Layer 2 ecosystem is still growing, and there may be new EI
ETH0.36%
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