Data: The ETH/BTC ratio has fallen to a 10-month low, with Ethereum continuing to underperform Bitcoin

According to CoinDesk, the ETH/BTC ratio fell to 0.02835 on Tuesday, marking the lowest level since July 2025, down over 35% from the August 2025 high of 0.04324. On that day, Ethereum dropped more than 2%, while Bitcoin fell about 1%. The ratio is currently well below the 200-week moving average (0.04828), with technical indicators continuing to show a long-term weakness for Ethereum relative to Bitcoin.

Analysis indicates that the approval of the U.S. spot Bitcoin ETF at the beginning of 2024 has continuously attracted institutional capital inflows, which is the core driving factor for Bitcoin's long-term outperformance over Ethereum.