So, the Ethereum-to-Bitcoin ratio just took a nosedive to levels we haven’t seen in five years. Yeah, five years! Ethereum’s price decided to take a little vacation while Bitcoin threw a party and crossed $100K. Classic.
Eric Wall Spills the Beans on ETH/BTC‘s Miserable Plunge
Enter Eric Wall, co-founder of Taproot Wizards—sounds fancy, right?—who’s trying to decode why Ethereum’s ratio to Bitcoin is now the sad kid at the crypto table. According to him, Ethereum’s recent price behavior is about as inspiring as a Monday morning meeting that could’ve been an email.
Bitcoin’s out here getting all shiny post-halving, hitting $100K like it’s no big deal, while Ethereum’s tripping below $2,000, flirting with lows around $1,400. Come on, ETH, get it together!
Wall points out that Ethereum is now stuck in the crowded blockchain buffet, where everyone’s serving cheaper fees and faster transactions. It’s like trying to sell fancy pants at a sock sale—tough competition.
And get this—Ethereum doesn’t have a Michael Saylor-type buyer backing it up. Bitcoin? Yeah, they got Saylor throwing money around like confetti. Ethereum? Crickets.
Apparently, Bitcoin and gold have become the “wartime assets” (very dramatic), while Ethereum is stuck as the “peacetime asset.” So while gold is climbing Everest and Bitcoin’s on its way, Ethereum’s just pacing the base camp, sipping a lukewarm coffee.
The Merge Didn’t Mess This Up—Stop Blaming It
People love blame, and lately, the Merge is the scapegoat. Ethereum’s switch from Proof-of-Work to Proof-of-Stake in 2022 hasn’t punched the ETH/BTC ratio in the gut, says Wall.
“The ETHBTC ratio did not go down because of The Merge,” Eric Wall insists like a guy refusing to take the blame for the office printer jam.
But hey, some crypto analyst named Beanie thinks otherwise—they blame the Merge. Wall calls BS on that and points fingers at Ethereum’s Layer 2 tokens for making a mess, fragmenting the network and breaking the “asset value capture narrative.” Talk about a mouthful!
Oh, and he threw in that Ethereum’s DeFi primitives lineup is more stale than last week’s bagels. Expectations were high, but reality hit the snooze button.
Despite all this, Ethereum flashed some life—trading volume spiked to $17.5 billion in under a day and prices perked up to about $1,800 after a modest 12% rally, outpacing SOL and XRP. So, maybe ETH isn’t completely dead yet. Just mostly.
🤷♂️ Crypto drama never disappoints. 🍿
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2025-04-28 07:17