ETH Slumps Against Bitcoin as Investors Favor BTC Ahead of 2024 Halving

ETH price continues to lose ground against Bitcoin as ETH/BTC pair drops to 15-month low.

Bitcoin's market dominance has risen to 54%, highest in 30 months, indicating strength ahead of 2024 halving event.

ETH/BTC pair broke below critical 200-week EMA support, raising possibility of further downside.

Investor sentiment appears more bullish on Bitcoin with upcoming halving and potential for spot BTC ETF.

Multifaceted market dynamics, regulatory environment expected to remain headwinds for ETH/BTC pair near-term.