Ethereum’s ETH/BTC Ratio Dips to 0.02 Amidst Massive Price Dip

Ethereum is underperforming against Bitcoin as the broader selloff in recent times has triggered a bigger drop in the ETH/BTC ratio.

The year is less than four months, but Ethereum (ETH) could have had a better 2025. The supposed leading altcoin has suddenly become synonymous with failure.

Ethereum Eyes Further Price Plunge 

On-chain charts show that Ethereum has hit its lowest level against Bitcoin (BTC), last seen in February 2020. 

In the early hours of April 7, ETH/BTC reached an intraday low of approximately 0.02 BTC on the Binance exchange. Based on this, ETH/BTC bears might start looking forward to the September 2019 low of 0.01615 BTC.

According to CoinMarketCap data, ETH traded at $1,560 at the time of this writing. This price level follows an 18.82% decline within 24 hours. 

Judging by this current ETH price, anyone who made their ETH purchase when the ICO triggered a bull market in January 2018 would have made no gains at all. 

Against Bitcoin, Ethereum has recorded up to a 44% price plunge this year alone. This was only around 39% a week ago. Meanwhile, the altcoin has experienced three consecutive years of being in the red. 

In December 2021, ETH registered a price peak, influenced by the hype around Decentralized Finance (DeFi) and Non-fungible Tokens (NFTs). 

As of today, the altcoin is 79% away from this peak. For ETH/BTC to hit the potential 0.01615 BTC price point, Ethereum would need to plunge further below 18% against Bitcoin. 

Upgrades Within the Ethereum Ecosystem 

Considering the complexities and number of upgrades going into the Ethereum ecosystem, the expectation is that the coin would outperform its counterparts. However, this is hardly the case. Ethereum Pectra, the biggest network upgrade since Dencun, went live on the Sepolia testnet a month ago. 

The upgrade, which marked a breakthrough in the network’s development, changed Ethereum’s staking mechanism, Layer-2 scalability, and network efficiency. 

On the other hand, there are concerns about the Holesky testnet, where the Pectra upgrade was activated on February 24. 

It failed to finalize due to unresolved technical problems, and now the developers are considering shutting the testnet down. These developers revealed that support for the Holesky testnet will halt in September 2025.

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