The ETH/BTC ratio has been below 0,05 for fourteen consecutive months, reflecting a historic tension between Ethereum and Bitcoin, the two most powerful cryptocurrencies on the market.
The Ethereum-Bitcoin ratio remains at historically low levels, marking a new negative record after fourteen consecutive months below the 0,05 threshold.
This phenomenon, CoinGecko analysts explain, reflects Bitcoin's sustained resilience as the market's dominant cryptocurrency, compared to Ethereum, whose relative valuation has failed to regain ground for years. The latest drop, dating back to July 2024, symbolizes a trend that has defined the last decade in the joint evolution of these two major digital currencies.
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The ETH/BTC ratio, which indicates Ethereum's value in terms of Bitcoin, has been a key indicator for measuring the relative strength and popularity of both cryptocurrencies. Its peak was recorded on June 12, 2017, when it reached an all-time high of 0,148 amid a boom driven by ICOs, a phenomenon that led Ethereum to surpass $398 and Bitcoin to experience a pullback at the time. This peak not only represented a milestone for Ethereum but also a shift in the crypto landscape, demonstrating the potential this altcoin would have in the years to come.
Despite this surge, the ETH/BTC ratio has never held at these levels for extended periods. In fact, over the past ten years, the ratio has only been above 0,1 for 40 days, or just 1,1% of the time, primarily during the early days of the ICO phenomenon in 2017 and 2018.
Since February 2018, this ratio has not exceeded the level of 0,09, and in recent years, the figure has remained mostly below 0,05, something that had only previously occurred between August 2018 and April 2021 over a 33-month period. With more than 2.100 days below 0,05 over the past decade, the market seems to indicate a sustained preference for Bitcoin over Ethereum, which is still debating whether to consolidate its value or suffer the pressure of a market dominated by the crypto king.
Source: CoinGecko
The CoinGecko report, which analyzes the daily ETH/BTC ratio from 2015 to September of this year, warns that Bitcoin's resilience is largely explained by its growing institutional adoption and the perception that it maintains as reserve of value.
Meanwhile, Ethereum, despite its technological innovations and having played a leading role in multiple bullish cycles, has failed to establish a stable position in this relationship. In 2025, the annual average ETH/BTC ratio reached a five-year low of 0,027, close to levels seen during previous bear markets.
The historic streak could be broken. Trade ETH today.Ethereum prepares for a new push in 2025
Despite this reality, recent movements suggest that Ethereum could be on the verge of a new bull cycle. The year 2025 brought with it an all-time low for Ethereum at $1.471 on April 9, which sent the ETH/BTC ratio below the 0,02 level, something that hadn't happened since 2020. However, chaining a progressive recovery, The ratio rose again to 0,04 in August this year, coinciding with a new all-time high for Ethereum at $4.946This improvement was driven by the emerging narrative of digital asset treasuries, a prospect that has garnered attention in the financial sector and created an environment of positive expectations for the altcoin.
A key point in understanding the relative relationship between the two cryptocurrencies lies in their behavior during their all-time highs. While Bitcoin has reached extremely high levels, even surpassing $124.000 in 2025, Ethereum has shown a wide spectrum, from ETH/BTC ratios of 0,036 at Bitcoin's previous peaks to 0,097 at times when Ethereum managed to increase its relative valuation. Currently, a recovery toward the 0,05 threshold could place Ethereum between $5.000 and $6.200 if Bitcoin remains in its current range between $100.000 and $124.000.
Source: CoinGecko
This potential revaluation of ETH will largely depend on the materialization of catalysts in the Ethereum ecosystem, such as the strengthening of decentralized applications, greater network adoption, relevant technological advancements, and increased institutional confidence. History shows that sustained recovery above 0,1 in the ETH/BTC ratio has only been possible during large-scale events, such as the ICO craze in its peak years, and that the absence of such drivers limits its advance against Bitcoin.
In addition, the CoinGecko report also highlights that the daily ETH/BTC ratio has seen higher annual averages during 2022 and 2023, hovering around 0,07 and 0,063, respectively, reflecting periods of relative strength for Ethereum. However, this strength failed to sustain in 2024 and 2025, reinforcing the idea that the market continues to favor the stability and institutional trust that Bitcoin provides.
Bitcoin is solid. Visit Bit2Me and access BTC.What the ETH/BTC ratio says about the future of cryptocurrencies
Close monitoring of the ETH/BTC ratio is critical to understanding the dynamics shaping the cryptocurrency market, and its evolution has significant implications for investors, developers, and enthusiasts.
The prolonged trend of this ratio below 0,05 confirms that Bitcoin remains the most influential and widely supported digital currency., while Ethereum is still struggling to consolidate its place within an increasingly competitive and mature ecosystem.
However, this situation should not be interpreted as an absolute weakening of Ethereum, but rather as a reflection of different roles and stages in cryptocurrency adoption. While Bitcoin is emerging as a store of value and benchmark asset, Ethereum is betting on technological innovation and development in the decentralized finance sector, which could boost its value in the medium and long term.
Therefore, the ETH/BTC ratio is an invaluable barometer that indicates not only price comparisons but also market expectations and confidence in each project. Keeping a close eye on this metric will allow us to identify potential turning points and anticipate changes in the dynamics of the crypto sector. Ultimately, the near future will determine whether Ethereum manages to reverse its months-long streak below 0,05 and once again position itself as a strong competitor to Bitcoin in the race for digital supremacy.
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