Ethereum dominance against Bitcoin takes sharp dive Quick Take
The evolving dynamics in the cryptocurrency market are clearly reflected in the Ethereum-Bitcoin ratio, which is inching closer to 0.05, a level not seen since mid-2021. Ethereum’s (ETH) position against Bitcoin (BTC) has been in a steady decline. Notably, it was above 0.07 in early 2023, but the persistent momentum has significantly impacted it, leading to a drop to 0.06 in September of that year.
Even as Bitcoin’s dominance surges to 54%, a fascinating trend is the endurance of Ethereum’s dominance against Bitcoin, albeit fast diminishing. Historical data, represented by the pink line, showcases Ethereum’s peak dominance at -0.085, typically seen during bull markets when Ethereum outperforms. However, the tables turn in bear markets, with Bitcoin taking the lead.
As current trends suggest, we might be on the verge of a market shift with Bitcoin potentially regaining its dominance in terms of market cap.
Analyst 
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.
In this insight
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
$3,171.52
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).