Ethereum-to-Bitcoin Ratio Hits 10-Month Low Amid Shift in Market Sentiment

The Ethereum-to-Bitcoin (ETH/BTC) ratio has reached its lowest point in 10 months, sparking concerns about investor sentiment in the cryptocurrency market. This technical indicator is closely monitored by analysts to determine whether the broader market is entering a bullish or bearish cycle.

According to Detik Finance, the recent drop marks the weakest reading for the pair since July 2025, with Ethereum's price falling more than 2% on May 12 and Bitcoin experiencing a modest decrease of just over 1%. The ETH/BTC ratio has plummeted more than 35% from its peak in August 2025.

The downward trend is attributed to Bitcoin's sustained outperformance, which gained momentum following the introduction of popular U.S. spot Bitcoin ETFs in January 2024. This has drawn substantial institutional and retail capital inflows into Bitcoin, contributing to its continued dominance over Ethereum.