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Ethereum’s decline against Bitcoin has surprised experts, with Lyn Alden calling the drop “more brutal than expected.” Despite Trump’s crypto-friendly administration, Bitcoin surged 31%, leaving Ethereum struggling with a multi-year low ETH/BTC ratio.
Trump Victory Shocks Ethereum Supporters
After a presidential election result that macroeconomist Lyn Alden had hoped would be better for Ethereum, the cryptocurrency's poor performance against Bitcoin startled her. Alden has acknowledged that she isn't a huge supporter of Ethereum.
"I’ve been kind of a polite long-term Ethereum bear, but the post-election new low in ETHBTC is even more brutal than I expected," Alden stated in a post on November 17th, X.
As Alden pointed out again, the Trump administration "is open for crypto securities," thus it shocked her that Ether's performance against Bitcoin dropped after the announcement of victory.
“ETHBTC jumps, then falls. New lows after good news,” Alden remarked.
Following the election, the Ethereum/Bitcoin ratio hit a multi-year low of 0.033 on November 15—the lowest level since March 2021—according to data from TradingView.
Bitcoin Surges as Ethereum Lags
According to CoinMarketCap data, since November 5th, the price of Ether has increased by 17% to $3,107, while the price of Bitcoin has increased by about 31% to $90,423.
Meanwhile, data from Farside shows that US spot Ethereum ETFs have received a total of about $751.8 million in investments since Trump's victory.
Is Ethereum ‘Dying a Slow Death’?
According to a report by Cointelegraph on November 16th, top analysts have concluded that Ether is "dying a slow death" after it just fell below its longest-serving support level versus Bitcoin.
This development has led many to question Ethereum’s resilience in the face of Bitcoin’s dominance, despite favorable macroeconomic trends for the cryptocurrency sector.
Hope on the Horizon for Ethereum
Nevertheless, following the election result, Consensys CEO Joe Lubin has a more hopeful outlook on Ethereum's long-term prospects.
Ethereum, according to Lubin, is "poised to benefit" more than any other protocol from Trump's triumph in the presidential election.
"America has had its boot on the neck of Ethereum for a pretty long time, specifically Ethereum, and that’s caused a bunch of FUD," Lubin stated.
"It’s just a lot bigger and more mature than all the other ecosystems other than Bitcoin, which is mature but narrow in its purview," he further stated.
Trump Administration Could Push DeFi Mainstream
In a recent interview with Cointelegraph, RedStone's co-founder and chief operating officer, Marcin Kaźmierczak, stated that the Trump administration "could champion policies that push DeFi from niche to mainstream."
This outlook hints at potential policy shifts that could transform decentralized finance into a mainstream financial system.
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