- ETH/BTC pair reached 0.0368, its highest level since early 2025, recovering from April lows that marked a six-year decline.
- Weekly spot trading volumes for ETH/BTC reached a record high with Ethereum’s volume nearly tripling Bitcoin’s, reflecting stronger investor participation.
- ETH/BTC perpetual futures open interest ratio surged to 0.71, marking its highest level in 14 months and signaling greater speculative activity.
Ethereum has picked up some speed against Bitcoin, and the ETH/BTC pair is at its highest level since the turn of the year. The rebound follows a period when Ethereum’s exchange rate fell to the lowest level it had been in six years this past April.
ETH/BTC Surges to Annual Peaks
The ETH/BTC pair trades at 0.0368, which represents a significant recovery in Ethereum’s relative strength. Nevertheless, the pair is still below levels the Ethereum community wants to see.
Weekly spot trading volumes for the ETH/BTC pair have reached a new all-time high, with the ratio standing at 2.71. This surge indicates increased trading activity in Ethereum compared to Bitcoin.
CryptoQuant.com tweeted, “Ethereum’s relative performance against Bitcoin, coupled with record spot trading volumes and elevated derivatives positioning, signals a shift in market dynamics favoring Ethereum in the short term.”
Record Spot Trading Activity
The spot trading volume for Ethereum last week was almost triple that of Bitcoin, indicating a strong market engagement in Ethereum transactions.
The increase in spot trading indicates investors zeroed in on Ethereum as traders have realigned their portfolios to take advantage of recent gains, and the trading indicates short-term confidence in Ethereum’s market position.
Market observers note the ETH/BTC ratio in spot trading demonstrates a shift that signifies a change in investor focus, where Ethereum is spanning a broader scope of trading activity in proportion to trading activity in Bitcoin.
Growth in Derivatives Positioning
The ETH/BTC perpetual futures open interest ratio in the derivatives market is sitting at 0.71, its highest level in 14 months and Evidence of more speculative activity.
The increase in open interest suggests the level of interest in Ethereum futures long versus Bitcoin is increasing, and that traders are positioning for potential short-term moves.The increase in activity demonstrates a shift in perspective within crypto derivatives.
The increase in derivatives positioning aligns with Ethereum’s stronger performance in spot markets. Elevated futures activity often accompanies rising spot volumes, as traders hedge and speculate simultaneously.
Ethereum’s upward trajectory against Bitcoin reflects both trading volume growth and elevated derivatives interest. Sustaining these trends will be necessary for Ethereum to approach previous historical highs in the long term.
