Ethereum Underperforms as ETH/BTC Ratio Drops to Five-Year Low

The Ethereum/Bitcoin (ETH/BTC) ratio has reached a five-year low, falling to 0.02193. This indicates continued underperformance of Ethereum compared to Bitcoin, according to analyst James Van Straten on March 31st. 2023 marks one of Ethereum’s weakest quarters against Bitcoin, with the ETH/BTC ratio down over 50% in the past year. Despite a historical pattern of outperforming Bitcoin after prior halvings, this cycle appears to be an exception. The recent downturn is further characterized by a significant decline of over 39% from its value year-to-date.