Ethereum (ETH) Slumps to Multi-Year Low Against Bitcoin Amid Market Turmoil

Ethereum (ETH), the second-largest cryptocurrency by market cap, continues to lose ground against Bitcoin (BTC). The ETH/BTC trading pair plunged to a multi-year low of 0.01896 BTC on Tuesday, extending a brutal downtrend that’s now spanned five straight months. So far in 2025, Ethereum has dropped over 50% against Bitcoin, highlighting the growing dominance of BTC in the crypto market.

The latest data from TradingView shows ETH/BTC steadily falling, with no signs of recovery. At the same time, CoinGecko reports Ethereum as the worst-performing major crypto in the past 24 hours—lagging behind even meme coins like Dogecoin (DOGE) and Cardano (ADA). Earlier today, Ether touched a yearly low of $1,411, nearing its lowest point since March 2023 and teetering on the edge of breaking below the $1,400 support level.

Bitcoin, in contrast, continues its strong bullish momentum, nearing $80,000 and pushing its market dominance above 60%. Prominent BTC advocate Michael Saylor has reiterated that “Bitcoin is digital gold,” reflecting growing institutional confidence.

Adding to the pressure on Ethereum and other altcoins is broader market instability. The U.S. recently announced plans to raise tariffs on Chinese imports to an eye-popping 104%, triggering a sharp decline in tech stocks. Apple (AAPL) shares dropped 5%, allowing Microsoft (MSFT) to reclaim the title of the world’s most valuable company. Bearish investor Mark Spitznagel warns the stock market could crash by 80%, further fueling investor anxiety.

As macroeconomic fears mount and BTC continues to shine, Ethereum’s future remains uncertain. The altcoin's sustained underperformance could signal a prolonged shift in market sentiment away from ETH and altcoins in general.