Ethereum (ETH) prices have recently dipped to levels not seen since 2019 compared to Bitcoin (BTC), setting off renewed interest among traders and analysts. This historical trend raises a crucial question: Will Ethereum regain its footing against Bitcoin as it has in previous cycles? Historically, this ETH/BTC ratio dip often precedes significant Ethereum outperformance, suggesting the potential for growth. However, factors such as sluggish network activity and subdued demand from both retail and institutional investors pose challenges to a swift recovery. The current market climate also features selling pressure stemming from long-term holders and traders shifting towards Bitcoin ahead of crucial events like ETF approvals or halving cycles. While this historical setup hints at potential for ETH rebound, the current environment suggests that it might be delayed.