As the crypto market evolves, the dynamic between Ethereum and Bitcoin is emerging as one of the most talked-about narratives. The ETH ecosystem is embarking on a new phase of growth, driven by scaling solutions, increasing staking participation, and a more efficient supply structure. These enhancements are consistently bolstering the ETH fundamentals and its long-term utility in decentralised finance and beyond. The discussion surrounding Ethereum’s potential to regain its 2021 peaks against Bitcoin is intensifying, fuelled by a growing sense of optimism from institutional players. Crypto analyst shared on X that Geoff Kendrick maintains a strong bullish stance on ETH, even in light of its extended underperformance compared to BTC.
Geoff Kendrick contends that the existing gap between ETH’s robust fundamentals and its lacklustre price performance is merely a transient phenomenon. Meanwhile, ETH has faced a notable decline to $2,100, marking a 57% drop since August 2025, while the ETH/BTC ratio has decreased by 37%. However, the on-chain transaction levels and total value locked across the ecosystem have reportedly remained close to all-time highs. Standard Chartered has drawn a parallel between the current situation of ETH and that of a major tech giant, Amazon, during the dot-com crash of 2021, indicating that ETH may have the potential for a rebound. The bank maintains aggressive long-term targets, projecting Ethereum to reach $4,000 by 2026 and potentially reaching $40,000 by 2030.
A move of that scale would also push the ETH/BTC ratio back toward its 2021 peak. The bullish thesis is largely driven by ETH’s dominant 50-65% position in stablecoins and tokenised real-world assets, with both sectors expected to experience massive growth. A partner with sizeprop known as Scient on X has indicated that the broader Ethereum and Bitcoin macro prediction has now completed a textbook pattern, closely adhering to the plan outlined at the February lows. Following a prolonged three-month rally, the price executed a precise bearish retest of the daily market structure shift and breaker zone, subsequently rotating lower to sweep liquidity at the February range lows and fill the fair value gap. This move exemplifies a classic technical execution of the thesis.
Currently, with price tapping into the critical 0.75 Fibonacci zone, the weekly timeframe is beginning to show early signs of a potential bounce. If ETH/BTC is set to form a significant bottom, this is the zone where it is likely to occur. On the lower timeframes, the 12-hour chart indicates a significant development. The price has been maintaining its lows steadily for more than a week, with the Relative Strength Index indicating bullish divergence, which is frequently a sign of traditional accumulation at a crucial level. Scient observed that the confirmation of a sustained move higher remains pending, and the current setup positions ETH/BTC at a critical juncture. Either way, the upcoming days are poised to be crucial in shaping the next significant trajectory.