$ETH/ $BTC ratio doesn’t shout. It quietly sketches out cycles for those who care to look.

- First turn: early 2017 - peaked in 12 months.

- Second turn: early 2020 - peaked in 23 months.

- Third turn: May 2025 - the wheel spins again.

Where are we now?

This chart whispers.

Only attentive minds can hear it.

What’s different this time?

In previous cycles, Ethereum had its own narrative. Now, the spotlight is on Bitcoin ETFs, institutions, regulation.

That pressure might delay, not accelerate, the outcome.

My call?

This cycle won’t wrap up in 6 months but it won’t stretch across 2 years either.

12–15 month cycle feels more grounded. That puts us into summer 2026, right on schedule for a quieter kind of rally.

If $ETH reclaims the stage, this chart won’t just track price action. It’ll trace how stories shift in silence.