The gap between BTC and ETH will be further widened

Nakamoto 2025-10-15 22:02 69042人围观 BTC

"Comparison of Bitcoin BTC and Ethereum ETH" "Relationship" has always existed between the two in the crypto market. There is no doubt about BTC's status as the "originator" of cryptocurrency. However, with the rapid rise of ETH and its "sound and perfect

The "comparative relationship" between Bitcoin BTC and Ethereum ETH has existed since the birth of the crypto market. BTC's status as the "originator" of cryptocurrency is unquestionable. However, with the rapid rise of ETH and its "sound and perfect" team of continuous innovation, everything is no longer so "absolute", at least no longer "logical". Some people have always believed that ETH will be comparable to BTC or even surpass BTC.

One thing we have to admit is the innovation ability of the ETH team. It can almost be said that after the birth of BTC and the formation of the "encryption market", it was ETH that single-handedly expanded the encryption market to today's scale. As of now, more than 80% of the tokens on the market are "attached to" and "supplemented" by the ETH main chain. It has long been recognized as the most active "public chain". This is in sharp contrast to BTC. For BTC, whose maintenance team relies on "public welfare organizations" to maintain it, it has almost "no achievements" over the years. In recent years, the only highly anticipated Ordinals ecosystem has also "withered" along with the market weakness. The transaction volume on the chain has dropped by more than 90% compared to the high point when it was first launched.
However, BTC’s role as the “first to try” has always been highly respected by investors. This is especially true today when regulatory agencies and capital forces enter the crypto market. It seems that BTC, which is "ruling by doing nothing" or with higher scarcity, has become the "darling" of regulation and capital. On the issue of the classification of cryptocurrency attributes, all regulatory agencies almost unanimously believe that BTC is a "commodity" and announce the result. However, the commodity attribute of ETH is "unresolved" and has not been "officially recognized", which greatly limits the expansion of ETH into the larger market.
ETH may be too dazzling or there are too many "imitators" and "dependants" of the same type. We can also imagine that when ETH is recognized as a "commodity", where will its "similar" tokens such as SOL and ATOM go?

Perhaps the regulatory agencies have their own way of thinking, but the decisions they made have actually caused serious "harm" to ETH. News on September 20, according to TradingView data, the ETH/BTC ratio fell to around 0.0602 today, the lowest value since July last year and a 14-month low. In this regard, Marcus Thielen, director of strategy and research at Matrixport, said that Ethereum’s protocol revenue has been declining in the past three months and expects BTC to continue to outperform the broader crypto market, including ETH. Meanwhile, IntoTheCryptoverse founder and crypto analyst Benjamin Cowen noted in an X post that ETH’s valuation relative to BTC may collapse. This shows that ETH is being "marginalized" by the market due to unclear regulations and reduced capital favorability. Investors now only see whether and when the "BTC spot ETF" will be approved... Yes, this is worth looking forward to, but ETH should not be "abandoned", it is worth owning. Although ETH is indeed at a disadvantage in the short term, and the disadvantage will soon expand further, isn't the ETH futures ETF also on the agenda? What's more, once the BTC spot ETF is approved, it will "benefit all things" and pave the way for a "clear division" of ETH attributes in the next step, as well as the application for an ETH spot ETF. The above are all personal opinions and do not constitute investment advice! ! !
Thank you for your attention. If you have different opinions, please feel free to communicate via private message! ! !