Since the Federal Reserve cut interest rates by 50 basis points last month, bitcoin price has risen by 14%, outpacing Ethereum's 12% gain. According to Kaiko Research report, institutional demand for Ethereum remains sluggish, with the ETH/BTC ratio falling to its lowest point since April 2021. The analysis pointed out that bitcoin's first-mover advantage has attracted more institutional investors, especially CME Bitcoin futures trading volume record.