$BTC

The BTC/ETH ratio—meaning the price of one Bitcoin divided by the price of one Ethereum—has become a key indicator of market dynamics and investor sentiment in the cryptocurrency space. As of mid-2025, this ratio has reached historically high levels, signaling a significant divergence in the performance and perception of the two leading cryptocurrencies.

BTC/ETH Ratio in 2025

Current Ratio: The BTC/ETH price ratio is close to 54 as of early 2025, a level not seen since the pre-pandemic period12. This reflects a dramatic shift in market preference, with Bitcoin attracting far more institutional capital and investor confidence than Ethereum.

Market Performance: While Bitcoin has seen modest year-over-year appreciation (about 1%), Ethereum has suffered a substantial depreciation of nearly 50% over the same period123. This underperformance has widened the gap between the two assets.

Institutional Flows: The approval and success of spot Bitcoin ETFs in the U.S. have driven massive institutional inflows into Bitcoin, further boosting its dominance over Ethereum128