Ethereum Primed for First Bitcoin Flip Since 2019 as Price Gap Narrows

ETH/BTC ratio hits inflection point—traders eye a historic reversal as institutional money plays catch-up.

Subheader: The ’flippening’ whispers return

After six years of Bitcoin dominance, Ethereum’s fundamentals—burning supply, layer-2 adoption, and that sweet, sweet yield—are finally moving the needle. Meanwhile, Bitcoin maximalists still think ’digital gold’ means never having to say you’re sorry for 30% drawdowns.

Closing jab: Wall Street’s suddenly very interested in blockchain... right around the time they figured out how to repackage ETH staking yields into yet another leveraged derivative.

According to a blockchain analytics firm CryptoQuant, Ethereum’s current undervaluation compared to bitcoin is a key signal as ETH is now “extremely undervalued compared to BTC, the first time since 2019.”

“Historically, this led to Ethereum outperforming. However, supply pressure, weak demand, and flat activity could stall a rebound.”

CryptoQuant

There’s still no consensus in the crypto market on how things will unfold. Some think that if something positive were to happen, insiders would already be acting and the market would likely see the price increase, though over-the-counter deals aren’t ruled out yet completely.

ETH is now extremely undervalued compared to BTC, the first time since 2019.

Historically, this led to Ethereum outperforming.

However, supply pressure, weak demand, and flat activity could stall a rebound. pic.twitter.com/QqU2Xh3vo9

While Ethereum continues to face short-term pressure, the Ethereum Foundation is doubling down on long-term improvements with the Pectra upgrade, which aims to make decentralized apps feel more like traditional applications.

As Artemiy Parshakov, vice president of institutions at staking infrastructure provider P2P.org, previously told crypto.news, account abstraction introduced with the Pectra update opens up possibilities “that were simply impossible before.”

Tracy Jin, COO of MEXC, also sees Ethereum’s Pectra upgrade as a chance to shift the broader market mood. With Bitcoin dominance hovering NEAR a yearly high of 63.9% and most altcoins struggling to gain lasting traction beyond hype-driven spikes, Jin said the Pectra upgrade offers a “rare opportunity to flip the script in favour of altcoins.”