Ethereum is gaining strength against Bitcoin again and the signs are getting hard to ignore.
It’s not just a simple bounce. Several things are happening at the same time:
• ETF inflows picked up again, showing that institutions are slowly rotating back into ETH after weeks of outflows.
• ETH’s staking yield keeps attracting long-term holders, while BTC offers no native yield unless wrapped or rehypothecated.
• Gas fees are low, activity is steady, and L2s are pushing more and more transactions back to Ethereum.
• Developers continue to build on Ethereum at a rate no other chain can match, which keeps long-term value flowing to ETH.
• And with the market expecting more liquidity in 2026, ETH usually benefits earlier than BTC because it’s the “risk-on” asset in the crypto ecosystem.
We’re also starting to see it on the chart:
ETH/BTC keeps defending key levels while the rest of the market looks shaky. That usually means quiet accumulation.
Bitcoin leads the cycle.
Ethereum follows with strength.
Then alts wake up.
ETH gaining ground against BTC is often the first hint that the next phase of the cycle is preparing in the background.
