Bankless · Friday, July 31, 2026
The ETH-BTC ratio, which has been in a downtrend for four years, is showing early signs of a potential reversal, poking through its long-term downtrend line. While some traders are interpreting this as a positive shift in sentiment for Ethereum, others caution that it's too early to confirm a durable trend, with fundamentals still needing to be fully resolved.
“The ETH-BTC ratio has been on a four-year downtrend, a four-year of terrible vibes. Look at this chart. This is a whole... This is a terrible chart.”
“But if you zoom in, you can see it. You can see it. Is it breaking a trend line? At the very end... ETH BTC is poking through this like four year downtrend.”
“The next question is like, okay, if it's going to stop going down versus Bitcoin, the next question is like, where does it go to next? And I think you can see sentiment shift in the ETH.”