ETH/BTC Ratio Surges 10%, Ethereum on Track to Outperform BTC Again

The crypto market is showing signs of a bullish trend in Q3, with the total crypto market cap gaining over 6% this quarter. This could mark the first time the market closes a quarter in the green since Q3 2025.

Ethereum's performance has been particularly notable, with its price surging by more than 18% in July alone, significantly outperforming Bitcoin. The ETH/BTC ratio has climbed over 10% this quarter, putting it on track for its strongest quarterly performance since the 56% rally in Q3 2025.

The rotation from BTC into ETH is already underway, with Ethereum's exchange supply ratio hitting a new low of 0.127. This combined with rising institutional demand points to a strong setup for another 'ETH-led' rally.