--- title: "ETH/BTC Ratio" type: "Topics" locale: "en" url: "https://longbridge.com/en/topics/37083873.md" description: "An important data point is the ETH/BTC Ratio, which reflects the relationship between ETH and BTC. If one acknowledges ETH's niche in the on-chain traditional finance ecosystem, ETH will have a narrative independent of BTC. This ratio suddenly accelerated in May 2025, coinciding with the peak popularity of stablecoins, multiple companies announcing transitions to DAT, and institutions like Peter Thiel and ARK entering the market. Even after the crypto downturn post-October 10, this ratio remained within the 3%–4% range..." datetime: "2025-12-12T03:27:21.000Z" locales: - [en](https://longbridge.com/en/topics/37083873.md) - [zh-CN](https://longbridge.com/zh-CN/topics/37083873.md) - [zh-HK](https://longbridge.com/zh-HK/topics/37083873.md) author: "[lyhalfway](https://longbridge.com/en/profiles/3372973.md)" --- # ETH/BTC Ratio An important data point is the ETH/BTC Ratio, which reflects the relationship between ETH and BTC. If one acknowledges ETH's niche in the on-chain traditional finance ecosystem, ETH will have a narrative independent of BTC. This ratio suddenly accelerated in May 2025, coinciding with the peak of stablecoin momentum, as multiple companies announced transitions to DAT, and institutions like Peter Thiel and ARK began entering the market. Even after the crypto downturn post-10.10, this ratio remained in the 3%–4% range, nearly doubling from the May low. Looking at the longer-term picture, which is the core logic behind Tom Lee's ETH price projection, the ETH/BTC ratio averaged 4.7% over the past 8 years, with a historical high of 8.7%. Currently at 3.5%, combined with ETH's narrative shift this year, it is undervalued. The key driver behind this ratio's rise is the increasing buy-in from institutional investors into ETH's ecosystem narrative. Narrative shifts take time (Google is a prime example—it took nearly 2 years to transition from an OpenAI valuation hit to an AI juggernaut narrative). BMNR's vision is to play a bigger role in this narrative, acting as a bridge between traditional finance and the crypto ecosystem. $IShares Ethereum Trust ETF(ETHA.US) $BitMine Immersion Tech(BMNR.US) ### Related Stocks - [BTC.US](https://longbridge.com/en/quote/BTC.US.md) - [BMNR.US](https://longbridge.com/en/quote/BMNR.US.md) - [BMNRD.US](https://longbridge.com/en/quote/BMNRD.US.md) - [ETHA.US](https://longbridge.com/en/quote/ETHA.US.md) ## Comments (16) - **lyhalfway · 2026-01-28T05:24:44.000Z**: If the 1.29 Agriculture Committee bill is passed smoothly and the CFTC clearly defines the compliance of staking rewards, it will open the upward channel for ETH/BTC - **R&C · 2025-12-15T09:03:56.000Z**: Today there was a news flash saying that bmnr already holds 4% of eth, Uncle Yaren - **lyhalfway** (2025-12-15T09:43:16.000Z): 4% is 4.8 million, today's update may reach 4 million, 4.8 million will be reached in January - **R&C** (2025-12-15T11:19:38.000Z): Wait patiently - **ㅍㅅㅍ · 2025-12-12T14:42:03.000Z**: Well, this is not a matter of cause and effect - **左侧+耐心 · 2025-12-12T10:08:17.000Z**: Has Uncle Yaren bought calls for December next year? If the crypto ETF is approved early next year, the establishment and boom period will be in Q1 and Q2. Will the capital take time to flow in? For example, if the ETF is established in Q1 and then gradually buys ETH, the price increase may take a r - **lyhalfway** (2025-12-12T10:12:25.000Z): Not yet, the furthest is June, and the main position is also the underlying stock, so I'm not too worried - **Andy G531 · 2025-12-12T06:58:26.000Z**: Firm support! - **奥斯汀成长股实验室 · 2025-12-12T03:46:57.000Z**: This is an indicator reflecting the strength of the first and second cakes, and there's also the BMNR/MSTR Ratio, but similar to this indicator, the crypto community calls this indicator the exchange rate pair. - **lyhalfway** (2025-12-12T03:51:20.000Z): Well, strength and weakness are still supported by fundamentals. I'm bullish on ETH having an independent trend, which also means this ratio will increase rather than remain the same. - **路壹飞 · 2025-12-12T03:39:11.000Z**: 3.5%, Uncle Yaren, hope it breaks 10% soon hahaha - **lyhalfway** (2025-12-12T03:42:08.000Z): Oh, I made a typo, let me correct it - **路壹飞** (2025-12-12T04:08:43.000Z): I've been learning a lot from ChatGPT these past two days and am even more optimistic about ETH's future 😁 - **跟顾神反着买 · 2025-12-12T03:36:41.000Z · 👍 4**: Indeed, only buy and not sell before 5% - **曙光在明天 · 2025-12-12T03:32:05.000Z · 👍 8**: I also have this feeling. The correlation between their rises and falls is no longer as strong. Recently, every rebound after a drop has been more robust for ETH. - **lyhalfway** (2025-12-12T03:41:23.000Z): Yes, this is supported by the fundamentals of ETH