Ether Upside Strengthens Relative to Bitcoin

The ETH/BTC ratio is holding support above 0.05 and could face initial resistance near 0.08.

AccessTimeIconAug 13, 2021 at 9:30 a.m. UTC
Updated Sep 14, 2021 at 1:39 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Ether (ETH) broke out of a two month consolidation relative to bitcoin (BTC) last week. The ETH/BTC ratio is holding support above 0.05 and could face initial resistance near 0.08.

Ether’s outperformance could signal growing interest beyond bitcoin given the appeal of decentralized finance (DeFi) and the Ethereum blockchain’s latest network update known as the London hard fork.

The chart below shows ETH/BTC’s long-term ascending channel, which provided strong support over the past two years.

Despite ether’s underperformance relative to bitcoin during the 2018 crypto bear market, the second largest cryptocurrency has maintained an uptrend that began in 2016. 

Weekly chart of ether-bitcoin (ETH/BTC) ratio.
Weekly chart of ether-bitcoin (ETH/BTC) ratio.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.