$ETH As of May 12, 2025, the ETH/BTC trading pair is showing a historic breakthrough trend, with ETH's year-to-date increase reaching 180%, and its market capitalization share rising to 22%, marking the first time it has broken the key resistance level of 0.045 BTC. On the technical front, after Ethereum completed the Pectra upgrade, Layer 2 transaction costs have dropped to 0.0001 ETH, driving the total value locked in DeFi to exceed $50 billion, with ecosystem activity increasing by 35%. On a macro level, under expectations of a Federal Reserve interest rate cut, the ETH/BTC exchange rate has a negative correlation of -0.78 with the US dollar index, with institutional funds seeing a net inflow of $1.2 billion through spot ETH ETFs in a single week, a historic high. The current market divergence point is that Nick, the founder of 1confirmation, advocates that ETH will surpass BTC in "smart contract platform value theory," while traditional institutions still insist on BTC's positioning as digital gold. Technical analysts indicate that if the weekly close is above 0.048 BTC, it may trigger trend-following buying by algorithmic trading models.