According to Golden Finance, crypto asset management company Bitwise analyzed that Ethereum is currently in one of the "deepest undervaluation ranges in many years." Andre Dragosch, head of European research at Bitwise, said Ethereum has "a fundamental pricing bias" relative to on-chain activity and adoption metrics. Data shows that the Ethereum-Bitcoin ratio has fallen to 0.027, down 47% from the same period last year. Although Bitcoin has risen 3.72% this year, Ethereum has fallen 20%. However, Bitwise analysis said that historical data showed that Ethereum achieved positive returns on Bitcoin in February for seven of the past eight years, which may indicate an imminent rebound.