Ethereum is facing a challenging period, experiencing a significant downturn compared to Bitcoin and losing ground in the crypto market. This decline is driven by Ethereum’s diminished market share across key sectors like DeFi, with protocols processing less than Solana. Ethereum also struggles against layer-2 networks, including Base (Coinbase), Unichain, and Arbitrum, which offer improved scalability. 80% below its 2021 peak, the ETH price has reached a record low, echoing a trend of Bitcoin dominance rising and pushing Ethereum’s market share further down. The weekly chart highlights a downward trend in ETH/BTC, plunging from 0.08810 to its current 0.01890 level. This decline is reinforced by falling Money Flow Index and an increasing Average Directional Index, showcasing continued bearish pressure. A concerning inverse cup and handle pattern adds further concern as it points towards potential for a further price drop. If this pattern plays out, the next support level to watch is 0.0070, which marked the bottom in December 2016. A drop below that would set the stage for another retest of the all-time low at 0.0019.