$ENA 🔄 ENA/BTC: Ethena’s Value Through the Bitcoin Lens

The ENA/BTC trading pair measures how Ethena (ENA) performs against Bitcoin, offering a crucial perspective beyond just fiat (USD) valuation. It helps reveal whether ENA’s movements are driven by its own strength or broader crypto market trends. As of mid-July 2025, the ENA/BTC ratio has seen 3–6% daily oscillations, with a historical high around BTC 0.00001239—suggesting potential room for growth if fundamentals remain strong.