Ethereum Struggles Against Bitcoin: A Dive to 5-Year Low in ETH/BTC Ratio Amidst Market Shifts

According to COINOTAG News, as of March 31st, Ethereum’s market positioning has shown significant vulnerability against Bitcoin. Following the cryptocurrency’s block reward halving in the previous year, the ETH/BTC exchange rate has plummeted to a historic low of 0.02193, marking a decline of 39% for Ethereum compared to Bitcoin in 2023. This contrasts sharply with May 2020, when Ethereum was valued at approximately $200 and Bitcoin hovered just under $10,000. Currently, Ethereum trades around $1,800, while Bitcoin has surged to approximately $82,000.

This downward trend is reminiscent of the declines seen in 2019, further emphasizing Ethereum’s vulnerability, particularly when juxtaposed with other major Layer 1 cryptocurrencies. Notably, the SOL/ETH trading pair has appreciated by 24% year-to-date, achieving a level of 0.07007. Despite SOL’s overall decline of 35% this year, its relative strength against Ethereum showcases a notable trend that could influence investor sentiment through 2025.