The analyst said the ratio is around 0.026-0.0265, with Ethereum near $1,666 and Bitcoin about $62,956, arguing ETH again lacked strong upside versus Bitcoin in the 2023/2024 bull market.
On-chain analyst PlanB said Ethereum has underperformed Bitcoin over the past decade, with the ETH/BTC ratio falling to about 0.026-0.0265, roughly in line with levels last seen in March 2016. Based on prices of about $1,666 for Ethereum and $62,956 for Bitcoin, the ratio indicates weaker relative demand for ETH versus BTC. PlanB argued Ethereum also failed to show strong upside against Bitcoin during the 2023/2024 bull market, similar to patterns he cited for 2017 and 2021.