ETH to BTC: The Chart Analysts Still Watch

Ever since Ethereum broke above $2,500 - nearly doubling from its recent low of $1,400 - I’ve been seeing a wave of commentary on this sharp rally.

One common theme stands out: the downtrend on the ETH/USD chart may be broken, but the ETH/BTC chart is still stuck in a bearish pattern.

Apparently, Bitcoin is still the benchmark. If ETH is worth 0.02 BTC, that’s considered cheap. 0.03? Fair. 0.10? That’s the dream of every Ethereum holder. People are still measuring ETH not just in dollars, but in satoshis.

It reminds me of the 2017-2018 era, when exchanges listed new tokens only in BTC pairs. You could trade a fresh token for Bitcoin - but not for fiat, not even for stablecoins. In fact, even the stablecoins themselves - like USDC and DAI - used to trade in BTC pairs. Not BTC/USDC, but USDC/BTC. It was the stablecoin priced in Bitcoin, not the other way around. Bitfinex kept that format until quite recently, and only last year did they finally remove USDC/BTC and DAI/BTC from spot markets.

At rabbit.io, things are much more flexible. You can swap any crypto asset for any other - ETH for BTC, ETH for XRP, ETH for Monero... heck, even ETH for fartcoins if you really want.