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Ethereum’s valuation compared to Bitcoin is at a historic low since 2020, leading to speculation regarding its standing in the cryptocurrency landscape.
The ETH/BTC ratio is currently just 0.02, based on the latest data from The Kobeissi Letter. This drop comes as Bitcoin solidifies its position while Ethereum struggles to maintain pace as of early 2025.
Further Reading
Market Data Indicate Growing Gap Between Cryptocurrencies
The initial quarter of 2025 has proven challenging for Ethereum owners. The digital asset has plummeted by 46% since the year’s start, in contrast to Bitcoin, which has decreased by just 12%.
This widening gap has drawn in investors who expected a divergent outcome following recent market shifts.
BREAKING: The Ethereum to Bitcoin ratio has now fallen to 0.02, the lowest since December 2020.
In the past 2.5 years, this ratio has plunged an astounding 75%.
This occurs as Bitcoin prices have greatly outpaced Ethereum.
During this interval, Ethereum prices have increased by 36%… pic.twitter.com/IUIunn9deX
— The Kobeissi Letter (@KobeissiLetter) March 31, 2025
“Bitcoin’s image as digital gold has been reinforced,” said market analysts quoted in reports. This narrative has drawn interest from significant investors, yet Ethereum has not seen similar levels of enthusiasm.
Upgrade Challenges Shadow Ethereum
Ethereum’s Pectra upgrade has faced numerous obstacles. Reports indicate several trial runs were unsuccessful prior to the recent deployment of the Hoodi testnet. These technical challenges have contributed to market unease.
The shift to proof-of-stake, a critical transformation in Ethereum’s operation, hasn’t catalyzed the market boost many anticipated. High gas fees continue to be a concern for users, while alternative blockchain networks gain appeal.
Bitcoin ETF Success Doesn’t Favor Ethereum
Bitcoin ETFs have amassed billions of dollars since their approval earlier this year. As market observations suggest, Ethereum has not benefited from this trend, as institutions remain cautious about its long-term potential.
Bitcoin’s capped supply renders it a more attractive choice for large investors seeking hedges against inflation, as noted by market analysts in recent discussions. This factor has allowed Bitcoin to maintain its leading position despite overall market challenges.
Further Reading
Mixed Forecasts for Ethereum’s Future Valuation
Some market analysts assert Ethereum could reach $20,000 if circumstances improve and the Pectra upgrade is successfully launched. Others warn that investors may divert funds to alternatives like Solana or Avalanche if Ethereum continues its downward trend.
According to CoinMarketCap data at the time of publication, Ethereum was priced at $1,84, with a 1.35% climb over the past 24 hours. This slight daily rise hasn’t changed the broader context of Ethereum’s difficulties.
Experts monitoring the cryptocurrency market state that the upcoming weeks will be pivotal. Their analyses indicate Ethereum must exhibit resilience or risk ongoing decline as Bitcoin’s dominance grows.
Featured image from Gemini Imagen, chart from TradingView