Donald Trump · CoinDesk
ETH/BTC ratio falls to 10-month low as ether continues to underperform bitcoin
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One widely watched indicator for assessing whether the crypto market is in a bullish or bearish phase is the ether-to-bitcoin (ETH/BTC) ratio.
Key facts
- On Tuesday, the ratio fell to 0.02835, its lowest level in 10 months and the weakest reading since July 2025
- The ratio eventually bottomed at 0.01770 in April 2025 during the market turmoil surrounding President Trump’s “Liberation Day” tariff announcements
- The ETH/BTC ratio is now down more than 35% from its August high of 0.04324
- Technically, the ETH/BTC ratio remains substantially below its 200 week moving average, currently at 0.04828, reinforcing the view that ether remains in a long term bear market relative to bitcoin
Summary
The ETH/BTC ratio dropped to 0.02835 on Tuesday, its lowest level since July 2025, and is now down more than 35% from its August peak of 0.04324. The ratio remains well below its 200 week moving average of 0.04828, reinforcing the long term bearish trend for ether relative to bitcoin amid continued bitcoin ETF driven outperformance. On Tuesday, the ratio fell to 0.02835, its lowest level in 10 months and the weakest reading since July 2025. The ETH/BTC ratio measures ether’s relative performance against bitcoin across crypto exchanges and is considered a key gauge of market risk appetite.