As the crypto market matures, the relative strength between Ethereum and Bitcoin is becoming one of the most discussed narratives. The ETH ecosystem is entering a new phase of growth, fueled by scaling solutions, increasing staking participation, and a more efficient supply structure. These improvements steadily strengthen the fundamentals of ETH and its long-term utility within decentralized finance and beyond.
Ethereum and Bitcoin Recovery Depends on Market Adoption and Rotation
The debate over whether Ethereum can regain its 2021 highs against Bitcoin is gaining new momentum as institutional voices become increasingly optimistic. Crypto analyst Walter Bloomberg revealed on X that Geoff Kendrick of Standard Chartered remains strongly bullish on ETH despite its prolonged underperformance against BTC.
Geoff Kendrick says the current disconnect between ETH’s strong fundamentals and its weak price performance is only temporary. Meanwhile, ETH saw a significant decline to $2,100, an increase of 57% since August 2025, with the ETH/BTC ratio decreasing by 37%. However, on-chain transaction levels and total value locked (TVL) across the ecosystem reportedly remained near all-time highs.
Standard Chartered has reportedly compared ETH’s current situation to that of a major tech company, Amazon, during the dot-com crash of 2021, suggesting that ETH could rebound. The bank maintains ambitious long-term goals, projecting Ethereum to reach $4,000 by 2026 and potentially $40,000 by 2030.
A move of this magnitude would also push the ETH/BTC ratio back towards its 2021 high. The bullish thesis is largely driven by ETH’s 50-65% dominance in stablecoins and real-world tokenized assets (RWA), with both sectors expected to see massive growth.
Macro-technical levels continue to shape ETH/BTC direction
A sizeprop partner known as Scient on After a sustained 3-month rally, price retested sharply bearish daily change in market structure (MSS) and breakout zone, before pivoting lower to sweep away liquidity at the February lows and close the fair value gap. This approach represents a classic technical execution of the thesis.
Currently, as the price reaches the critical 0.75 Fibonacci zone, the weekly time frame is starting to show the first signs of a potential rebound. If ETH/BTC is to establish a significant bottom, this is where it will happen.
On the lower time frames, the 12-hour chart reveals a significant development. Price is quietly holding its lows in over a week, with the Relative Strength Index (RSI) showing a bullish divergence, often a signal of a classic build-up to a key level.
Scient noted that confirmation of a sustained rise is still pending and that the current setup places ETH/BTC at a decisive moment. Either way, the next few days will likely be crucial in determining the next big direction.
