• Ethereum has gained around 300% against Bitcoin recently.
• BTC is trending higher than ETH YTD despite gains.

Bitcoin [BTC] and Ethereum [ETH] continue to be the leading digital assets. This fact was underscored when traditional financial institutions applied for ETFs for both these assets. Nevertheless, their price trends in the current market exhibit distinct differences, with ETH appearing to have a more favorable performance.

Realistic or not, here’s ETH market cap in BTC’s terms

Ethereum up against Bitcoin

The ongoing bear market has persisted, causing Bitcoin and Ethereum to experience declines in value due to a series of events within the cryptocurrency space.

As a recent Ecoinometrics post highlighted, Ethereum ceded ground to Bitcoin during the preceding bear market, erasing its previous gains. This divergence resulted in a diminished correlation between these two tokens. 

In the previous bear market, Ethereum gave away all its gains against BTC.

But not this time around.

ETH is up ~300% against BTC and hanging there. pic.twitter.com/Cv00IHSjfL

— ecoinometrics (@ecoinometrics) August 13, 2023

However, ETH’s price trend seems more favorable in the current bear market. According to the same Ecoinometrics post, it has gained roughly 300% against BTC. Nevertheless, a distinct pattern has come to light upon closer examination of the ETH/BTC correlation.

Bitcoin posts more gains YTD

Examining the price performance trajectory of
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Author: Adewale Olarinde

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