ETH/BTC Ratio Hits Three-Month High Amid Ongoing Altcoin Sell Pressure

The ETH/BTC ratio has hit a three-month high of 0.030, but this is not necessarily a sign that altcoin season is here to stay. According to data from Bitget, Bitcoins dominance in the market has remained strong at around 58.7%, while Ethereums share has climbed to 10.5%. Meanwhile, the category tracking smaller tokens outside of Bitcoin and Ethereum has continued its slide.

Tom Lee, chairman of BitMine, views the rising ETH/BTC ratio as a bullish signal for crypto overall, but notes that it says little about the median token and the Ethereum whale accumulation driving the rally. The ETH/BTC ratio is still down 4.85% over six months and 12.60% year to date, indicating how low Ethereum was relative to Bitcoin and how far it has to climb.

Despite this, institutional buying has been backing up the move, with BitMine and Arthur Hayes continuing to add ETH through a month when spot ETH ETFs pulled in fresh inflows while Bitcoin funds saw redemptions. This suggests that they expect the move to last, but whether the ratio holds here or slides back toward its lows will show whether this is a genuine reversal or just a bounce.