The cryptocurrency market is buzzing with positive developments. Former U.S. President Donald Trump recently signed an executive order that could reshape crypto history, while Bitcoin's on-chain volumes are surging—reminiscent of early 2024 and November 2023 peaks. Despite these bullish signals, Ethereum (ETH) remains sluggish, with the ETH/BTC pair hitting its lowest point since 2021. Here’s the latest on ETH’s performance.
Ethereum Price Rises 5.8% in 24 Hours
While Ethereum’s price has climbed 5.8% over the past day, it continues to trade below $4,000 and even under $3,500.
| Pair | 1H | 24H | 7D | 1M | 3M | 6M |
|---|---|---|---|---|---|---|
| ETH/BTC | 0.09% | 2.71% | -2.73% | -9.33% | -12.39% | -32.52% |
| ETH/USDT | 0.41% | 5.77% | 0.85% | -2.63% | 37.49% | 5.54% |
| ETH/USD | 0.44% | 5.82% | 0.91% | -2.61% | 37.58% | 5.44% |
Performance metrics for Ethereum against key pairs. Data source: Coincheckup
A glimmer of hope: the ETH/BTC pair gained 2.7% in 24 hours, outperforming Bitcoin briefly after Trump’s executive order. However, this upward momentum may be short-lived, as the pair has declined consistently for months.
Ethereum’s Bearish Trend Against Bitcoin
Ethereum’s position relative to Bitcoin is alarming. While BTC soared past $100,000 following spot ETF approvals, ETH remains fragile—even post-Merge and spot ETF launches. The ETH/BTC pair reflects this stark divergence, plummeting to 2021 levels:
👉 Why Ethereum’s underperformance matters
The pair now trades below the 365-day moving average, a far cry from 2021’s bullish trajectory.
Key Resistance: Breaking the Downtrend
ETH has been range-bound between $3,500 and $4,000 since March 2024. A break above the descending trendline could propel it toward 2024 highs:
- Three rejections near $4,000 highlight strong seller pressure.
- The RSI remains below the bearish trendline, but a breakout could reignite buyer momentum.
Ethereum’s fragility persists, with ETH/USD struggling below psychological resistance at $4,000. Meanwhile, the SEC faces a flood of new ETF applications, adding market uncertainty.
FAQ: Ethereum’s Market Position
Q: Why is ETH/BTC at a multi-year low?
A: Bitcoin’s dominance post-ETF approvals and Ethereum’s slower adoption of key upgrades have widened the gap.
Q: What could trigger an ETH rebound?
A: A breakout above $4,000 or institutional inflows from potential ETH ETF approvals may reverse the trend.
Q: How does Trump’s executive order impact Ethereum?
A: While broadly pro-crypto, its immediate effects on ETH are muted compared to Bitcoin’s regulatory clarity.
👉 Explore Ethereum trading strategies
Analyst Note: ETH’s recovery hinges on macroeconomic catalysts and network upgrades. Watch for ETF developments and institutional interest.