The ETH/BTC ratio has recently flashed a bullish golden cross, suggesting Ether may have more room to extend its gains relative to Bitcoin.
Ether has outperformed Bitcoin over the past two months, and that advantage could continue following the latest golden cross on the ETH/BTC chart.
The technical pattern appears when an asset’s 50-day moving average climbs above its 200-day average. Traders generally view the crossover as a sign that short-term momentum has strengthened enough to overtake the longer-term trend.
The latest ETH/BTC crossover follows a strong run for Ether, which has been outperforming Bitcoin since early June. The pair has gained about 25% since reaching its June 6 low.
Still, a golden cross is based on historical price movements rather than a forecast of future performance. It can show that momentum is strengthening, but it cannot guarantee that the trend will continue.
The signal essentially relies on the idea that an existing trend can persist as long as no major force disrupts it. Rising moving averages therefore suggest continued upward momentum, but market conditions can change quickly, making golden crosses an imperfect indicator.
The ETH/BTC ratio has a mixed history with these signals. Some golden crosses have preceded substantial gains, while others have failed and turned into traps for bullish traders.
A golden cross on July 25, 2025, initially worked in Ether’s favor, with the ratio rising 36% during the following four weeks. The move eventually reversed, however, leading to a much sharper decline.
The February 2021 crossover delivered a far stronger result. The ETH/BTC ratio surged 93% afterward, eventually reaching 0.0824 by mid-May 2021.
Meanwhile, golden crosses recorded in May and August 2022 failed to produce lasting rallies. In both cases, the ETH/BTC ratio began falling soon after the bullish signals emerged.
