ETH/BTC Ratio Hits 5-Year Low as Bitcoin’s Market Dominance Grows
Bitcoin’s (BTC) influence over the cryptocurrency market is reaching new heights, marking a significant shift in capital concentration within the digital asset space.
When paired with the top two stablecoins by market cap — Tether (USDT) and Circle’s USD Coin (USDC) — BTC and these stable assets now account for roughly 72% of the total crypto market value. This trend signals a flight to perceived safety, as investors continue to favor assets with strong liquidity and resilience.
BTC alone now commands a 64.60% share of total market capitalization, briefly touching levels last seen in January 2021. The surge underscores growing investor confidence in bitcoin amid ongoing global economic uncertainty and heightened market volatility.
Meanwhile, Ethereum (ETH), the second-largest cryptocurrency by market cap, continues to lag in 2025. ETH has dropped over 50% since the start of the year, significantly underperforming bitcoin. The ETH/BTC ratio has fallen to 0.01765 — its lowest point since early 2020 — emphasizing the widening gap between the two leading digital assets.
Bitcoin’s performance has also diverged sharply from traditional markets. Since the start of April’s “Liberation Day,” the S&P 500 has declined by 6%, while bitcoin has risen by 4%, holding firm despite macroeconomic headwinds. At the time of writing, BTC is trading just above $88,000, whereas ETH is hovering around $1,600.
Key Technical Levels to Watch for Bitcoin:
Bitcoin’s next major move may hinge on a few critical on-chain and technical thresholds:
- 200-Day Moving Average: $87,965
- 2025 Realized Price (average cost basis for BTC bought this year): $91,565
- Short-Term Holder Realized Price (average entry for BTC held less than six months): $92,385
Historically, bitcoin tends to enter a more sustained bullish phase when it breaks above these levels — a scenario traders and investors are watching closely.
