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The demand for ETH is slightly stronger than that for BTC, with a net inflow of 176 million, while BTC only has 36 million. It seems that institutions still prefer ETH.
If BTC does not stabilize here, it will be difficult for ETH to have an independent market. If BTC can stabilize later, then holding ETH will far outpace BTC.
Now there is nothing lacking; what is lacking is the time for waiting and observing. It is now possible to dollar-cost average, but it is not advisable to go in heavily.