As the cryptocurrency market matures, the relative strength between Ethereum and Bitcoin is becoming one of the most debated narratives. The ETH ecosystem is entering a novel phase of growth, driven by scalable solutions, increasing stack share and a more competent supply structure. These improvements continue to strengthen ETH’s foundations and long-term usability in decentralized finance and beyond.
Ethereum, Bitcoin recovery depends on market adoption and rotation
The debate over whether Ethereum can regain its 2021 highs against Bitcoin is gaining novel momentum as institutional voices become increasingly positive. Crypto analyst Walter Bloomberg revealed on X shows that Standard Chartered’s Geoff Kendrick remains strongly bullish on ETH despite prolonged underperformance against BTC.
Geoff Kendrick argues that the current disconnect between ETH’s robust fundamentals and its tender price performance is only ephemeral. Meanwhile, ETH experienced a significant decline to $2,100, representing 57% since August 2025, with the ETH/BTC ratio dwindling by 37%. However, on-chain transaction levels and total value locked (TVL) across the ecosystem are reported to remain near all-time highs.
Standard Chartered is reportedly comparing ETH’s current situation to that of major tech company Amazon during the 2021 internet crash, suggesting ETH could rebound. The bank maintains aggressive long-term goals, forecasting Ethereum to reach $4,000 by 2026 and potentially reach $40,000 by 2030.
A move of this scale would also cause the ETH/BTC ratio to return to its 2021 peak. This bullish thesis is largely driven by ETH’s dominant 50-65% position in stablecoins and tokenized real-world assets (RWAs), with both sectors expected to experience massive growth.
Macrotechnical levels continue to shape the direction of ETH/BTC
A sizeprop affiliate known as Scient on X did just that mentioned that the broader macro outlook for Ethereum and Bitcoin has now ended in a textbook pattern, closely following the plan outlined at the February lows. After a sustained 3-month rally, the price provided a tidy bearish retest of the daily market structure change (MSS) and breakout zone before falling to take liquidity at the February lows and fill the fair value gap. This move is a textbook technical implementation of a diploma thesis.
Currently, as the price approaches the critical 0.75 Fibonacci zone, the weekly time frame is starting to show early signs of a potential rebound. If ETH/BTC is going to make a significant bottom, this will be the area where it will happen.
On the lower time frame, the 12-hour chart shows an essential change. The price has been trading at over a week lows and the Relative Strength Index (RSI) is showing a bullish divergence, often a signal of classic accumulation at a key level.
The scientist noted that confirmation of a sustained upward move is still to be confirmed and the current setup puts ETH/BTC at a crucial moment. Either way, the coming days will likely be crucial in determining the next major direction.
