Ethereum (ETH) has struggled to keep pace with Bitcoin (BTC), hitting its weakest level in over five years.
Data from CoinMarketCap shows that the ETH/BTC trading pair has fallen to 0.024, its lowest point since December 2020. This signals Ethereum’s declining strength relative to Bitcoin, reinforcing the market’s shifting sentiment.
Ethereum’s market dominance has also suffered, dropping to 8.8%—its lowest level since May 2020.
In contrast, Bitcoin has continued to strengthen its hold on the market. Since 2022, BTC’s dominance has steadily risen to 61.1% of the crypto market, marking one of its longest growth streaks.
Crypto analyst Rajat Soni explained the significant shift in ETH’s valuation against BTC, pointing out that one BTC could buy around six ETH in 2017. Today, the same amount of Bitcoin can purchase approximately 42 ETH, highlighting Ethereum’s significant decline in value over time.
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