Ethereum plunges 13% vs. Bitcoin pushing BTC dominance to 2022 high — more pain ahead?

Ethereum’s native token Ether (ETH) plunged to its lowest level in almost two months against Bitcoin (BTC) as a crypto market sell-off intensified on May 12.

Macro headwinds catch up to ETH/BTC finally

The ETH/BTC trading pair fell by 7.5% to 0.0663 in the past 24 hours. The downside move came as a part of a correction that began May 11 when the pair traded at the local high of 0.0768. That pushed Ether down against BTC by up to 13.75%.

ETH/BTC daily price chart. Source:…

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