Ethereum's Staking Ratio Hits Record as Bear Flag Signals Potential Drop

The ETH/BTC trading pair is currently forming a bear flag pattern, indicating a potential 10% decline towards 0.026 BTC in May. According to NS3.AI, this technical setup suggests a bearish outlook for Ethereum against Bitcoin. Meanwhile, data from Token Terminal reveals that Ethereum's staking ratio reached an all-time high of 32.33% on April 21. This increase in staking has reduced the liquid supply of Ether, even as it underperformed Bitcoin by approximately 5.5% over the past week.