The ETH/BTC ratio is the price of one Ether measured in Bitcoin instead of dollars. If Ether trades at $3,000 and Bitcoin at $100,000, the ratio is 0.03, meaning one ETH buys 0.03 BTC. Because both prices usually move in the same direction against the dollar, the ratio strips out the general market move and shows only which of the two largest cryptocurrencies is doing better.
ETH/BTC ratio today
Right now one ETH buys 0.03057 BTC. Over the past 30 days the ratio has moved −6.5%, and over the past year −15.4%. The 12-month high was 0.03682 on 13 October 2025 and the low was 0.02578 on 6 June 2026. The figures below refresh every hour.
| Measure | Value |
|---|---|
| Change, 24 hours | +0.9% |
| Change, 7 days | −3.3% |
| Change, 30 days | −6.5% |
| Change, 90 days | +5.1% |
| Change, 1 year | −15.4% |
| 1-year high | 0.03682 (13 Oct 2025) |
| 1-year low | 0.02578 (6 Jun 2026) |
| 50-day average | 0.03156 |
| 200-day average | 0.02953 |
| Trend signal | 50-day above 200-day (golden cross) |
Ratio from CoinMarketCap spot prices; changes, averages and highs from Binance ETH/BTC daily closes (UTC). Refreshed hourly; last update 12 Oct 2026, 08:58 UTC.
For the weekly view with commentary, see our crypto market wrap, published every Sunday. Live coin prices are on the Markets page.
ETH/BTC ratio chart, last 12 months
Show the data as a table (month-end closes)
| Month end | ETH/BTC close | 200-day average |
|---|---|---|
| 31 Oct 2025 | 0.03511 | 0.03001 |
| 30 Nov 2025 | 0.03310 | 0.03198 |
| 31 Dec 2025 | 0.03390 | 0.03349 |
| 31 Jan 2026 | 0.03114 | 0.03507 |
| 28 Feb 2026 | 0.02933 | 0.03468 |
| 31 Mar 2026 | 0.03084 | 0.03324 |
| 30 Apr 2026 | 0.02957 | 0.03225 |
| 31 May 2026 | 0.02723 | 0.03119 |
| 30 Jun 2026 | 0.02681 | 0.03018 |
| 31 Jul 2026 | 0.02962 | 0.02937 |
| 31 Aug 2026 | 0.03140 | 0.02912 |
| 30 Sep 2026 | 0.03212 | 0.02950 |
| 12 Oct 2026 | 0.03055 | 0.02953 |
Hover or tap the chart to read any day’s close. The dashed line is the 200-day moving average, the level traders most often use to separate an uptrend from a downtrend in the ratio. When the daily close sits above it and the line itself is rising, Ether has been gaining on Bitcoin for months rather than days.
How to calculate the ETH/BTC ratio
ETH/BTC = price of Ether ÷ price of Bitcoin
You do not need to work it out yourself. ETH/BTC is a real trading pair on most large exchanges, so the ratio is simply the last traded price of that pair. On TradingView it appears as ETHBTC.
What the ratio represents
Traders treat ETH/BTC as a quick gauge of appetite for risk inside crypto. Bitcoin is the largest and most established asset. Ether is the base of the biggest smart-contract network, and most other tokens, decentralised finance applications and NFTs are built on Ethereum or on networks that settle to it. When the ratio rises, money is moving further along the risk scale. When it falls, money is staying in, or retreating to, Bitcoin.
- Ratio rising: Ether is outperforming Bitcoin. Historically this has often come with broader strength in smaller coins.
- Ratio falling: Bitcoin is outperforming. This has been the dominant trend for long stretches, including most of the period from late 2022 into 2025.
- Ratio flat: the two are moving together and the ratio is telling you nothing new.
ETH/BTC golden cross and death cross
A golden cross happens when the 50-day moving average of the ratio rises above the 200-day moving average. A death cross is the opposite. Neither is a prediction: both averages lag the price, so the cross confirms a trend that is already several weeks old. Traders watch them because the ETH/BTC ratio tends to trend for long periods, and a cross is a simple, unambiguous way to say the trend has flipped.
Current state: the 50-day average is 0.03156 and the 200-day average is 0.02953, so the 50-day average is above the 200-day average (a golden-cross state). This sentence updates hourly with the table above.
Key moments in the ratio’s history
- June 2017: the ratio reached its all-time high of roughly 0.15 during the initial coin offering boom, when new tokens were bought mainly with Ether.
- 2018 to 2019: it fell below 0.02 as the token boom unwound.
- Late 2021: it recovered to about 0.088 at the height of the decentralised finance and NFT cycle.
- September 2022: Ethereum completed the Merge, its switch from proof of work to proof of stake, with the ratio near 0.08. It trended lower afterwards.
- April 2025: it dropped below 0.02, its lowest level in about five years, before rebounding later that year.
What moves ETH/BTC
- Institutional flows. Spot Bitcoin exchange-traded funds launched in the United States in January 2024 and spot Ether funds followed in July 2024. The Bitcoin products attracted far more money at first, which weighed on the ratio.
- Activity on Ethereum. Busy periods for decentralised finance, stablecoins and tokenisation raise demand for Ether to pay transaction fees, part of which is destroyed under the fee-burning mechanism introduced in 2021.
- Competition. Faster or cheaper networks such as Solana compete for the same users and developers, and Ethereum’s own layer-2 networks have moved activity away from the main chain.
- Market mood. In sharp sell-offs Ether usually falls more than Bitcoin, which pulls the ratio down quickly.
How it relates to Bitcoin dominance
The two measures often move in opposite directions, but they are not the same thing. Bitcoin dominance compares Bitcoin with the entire market, including stablecoins and thousands of small tokens. ETH/BTC compares Bitcoin with one asset. Ether can gain on Bitcoin while Bitcoin dominance still rises, if the rest of the market is weak.
Limits of the ratio
ETH/BTC says nothing about dollar returns: both coins can lose value while the ratio climbs. It also reflects only two assets, so it can miss a rally that is concentrated elsewhere. Use it as one input next to price, dominance and market breadth.
Frequently asked questions
What is the ETH/BTC ratio right now?
At the last hourly update, one ETH bought 0.03057 BTC. The live table at the top of this page shows the 24-hour, 7-day, 30-day and 1-year change.
What is a good ETH/BTC ratio?
There is no good or bad level. Over the past eight years the ratio has ranged from under 0.02 to about 0.15. Analysts pay more attention to the trend over weeks and months than to any single reading.
What is an ETH/BTC golden cross?
It is the moment the 50-day moving average of the ratio rises above the 200-day moving average, which traders read as confirmation that Ether has entered a sustained uptrend against Bitcoin. A death cross is the reverse.
How do I read an ETH/BTC chart?
Read it like any price chart, but remember the unit is Bitcoin, not dollars. A rising line means Ether is gaining on Bitcoin, whatever either coin is doing in dollar terms. Our chart above plots the daily close with the 200-day average as the trend reference.
Why did the ETH/BTC ratio fall for so long?
From late 2022 to early 2025, Bitcoin benefited from exchange-traded fund demand and its role as the simplest institutional crypto holding, while Ethereum faced stronger competition and lower fee income on its main chain. Both factors favoured Bitcoin.
Where can I see the current ETH/BTC ratio?
On this page, refreshed hourly, and every Sunday in the weekly crypto market wrap together with how Ether performed against Bitcoin over the week. Any exchange that lists the ETH/BTC pair shows it live.
Does a rising ETH/BTC ratio mean altcoin season?
It is one of the usual ingredients, but not proof. The clearer sign is breadth: most large coins beating Bitcoin over several weeks, which is exactly what our live Altcoin Season Index measures.
This guide is educational. It describes how a market measure works and is not investment advice. Crypto assets are volatile and you can lose money.