Ether appears set to strengthen versus Bitcoin as the ETH/BTC ratio reaches a 10-week high.
The ETH/BTC ratio has climbed to its highest level in 10 weeks, signaling Ether (ETH) gaining chart momentum against Bitcoin (BTC). Ether’s position has been boosted by clearer DeFi guidance from the U.S. Securities and Exchange Commission (SEC) and fresh corporate accumulation: Bitmine added 71,524 ETH on Monday.
The ratio pierced a descending trendline that had been in place since August 2025. A daily close above that trendline represents the first meaningful breakout in months. The pair trades above the 50-day and 100-day exponential moving averages, around 0.0310, which now act as dynamic support. The narrowing between those EMAs suggests a potential bullish crossover if the upward move persists.
XWIN Research highlighted that a structural shift underpins Ether’s recovery, pointing to the SEC staff statement clarifying conditions under which DeFi front ends and wallet interfaces can operate without broker-dealer registration (requirements include no custody and neutral fee structures). On-chain indicators back the shift: active addresses are trending up and the Coinbase premium gap is improving, suggesting a recovery in U.S.-driven demand often associated with institutional flows.
Corporate accumulation is accelerating alongside the ETH/BTC strength. Bitmine now holds 4.87 million ETH—over 4% of circulating supply—after adding 279,296 ETH in the past 30 days.
Will an Ether bull market resume?
Crypto analyst GugaOnChain noted a pronounced split in ETH futures positioning. Global open interest reached $16.37 billion on Tuesday, well above its 14-day average, while funding rates remain negative at -0.0013%, indicating net short pressure versus the rally. By contrast, open interest on Binance jumped to $6.04 billion—a 10.47% daily increase—and funding rates there turned positive at 0.015%, signaling rising long exposure.
That creates a divergence: global shorts versus Binance-based longs. As the analyst put it, “We face an extreme imbalance. With 40% of global ETH Open Interest on Binance, the fuel for a violent move is ready.”
This mix of technical breakout, improving on-chain demand signals, and concentrated derivatives positioning leaves Ether positioned for a potentially volatile, bullish run if momentum holds.
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