The ETH/BTC ratio is used to measure the price relationship between Ethereum (ETH) and Bitcoin (BTC). Despite institutions beginning to adopt ETH and a historic price surge in July and August, with ETH reaching new highs, the ratio has not rebounded to 0.05.
According to CoinGecko, since July 2024, the ETH/BTC ratio has remained below 0.05, peaking at 0.14 in June 2017. Currently, the ratio stands at 0.039, down from 0.04 in August.
In March of this year, the ratio fell to its lowest point in five years, dropping to 0.02, influenced by macroeconomic uncertainty and escalating trade tensions between the U.S. and its trading partners.
However, the cryptocurrency market subsequently rebounded, reaching new highs in the following months. In August, Ethereum's price hit new highs multiple times, reaching a historic peak of $4,957 on August 24, before dropping approximately 6.7% to the current price level.
Since July, Ethereum's price has increased by about 155%. Meanwhile, financial institutions have begun using the token for asset management, and traditional equity investors are allocating ETH through exchange-traded funds (ETFs). Additionally, the Ethereum Foundation is actively promoting the network to Wall Street.
Market analyst James Check points out that since its launch in 2015, Ethereum has only outperformed Bitcoin 15% of the time.
Check's data indicates that ETH primarily outperformed BTC during the period from 2015 to 2017, coinciding with the launch of the world's first smart contract blockchain platform and the initial coin offering (ICO) boom in 2017.
Check's price history analysis released in April shows that since 2020, Bitcoin has outperformed Ethereum.
Market analysts are predicting when Ethereum will reach the $5,000 milestone. In August, ETH fell back to current levels after coming within about $43 of that key price point.
Jake Kennis, an analyst at blockchain analysis and research firm Nansen, told Cointelegraph during the August market period: "As ETH approaches its previous historical high, after such a significant rise in such a short time, a consolidation period is expected."
The analyst believes that after the significant price increase in August, ETH may need several weeks or even months to reach new highs again.
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Original article: “Despite Institutional Adoption Accelerating and Prices Hitting Historic Highs, ETH/BTC Ratio Remains Below 0.05”
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