FameEX Hot Topics | Ethereum Approaches Crucial BTC Price Ratio That Previously Triggered 450% Surge

Ethereum is once again approaching a key price zone relative to Bitcoin, drawing comparisons to a setup that preceded a major rally in 2019. The ETH/BTC trading pair is currently hovering around 0.019 BTC and closing in on 0.016 BTC — the level it bottomed at in September 2019 before surging nearly 450% over the next year. Analysts note that today’s chart pattern shares striking similarities with that earlier cycle, marked by an oversold Relative Strength Index (RSI), long-term weakness below key moving averages, and a multiyear downtrend.

Back in 2019, the ETH/BTC pair had dropped more than 90% from its peak, primarily due to the collapse of the initial coin offering (ICO) boom. In 2025, Ethereum is experiencing similar bearish pressure, with the pair down over 80% from its 2021 high. Contributing factors include skepticism surrounding Ethereum’s transition to proof-of-stake (PoS), increased competition from other smart contract platforms, and Bitcoin’s rising appeal as a dominant institutional asset. In response to these concerns, Ethereum co-founder Vitalik Buterin has proposed sweeping protocol updates aimed at making Ethereum simpler, faster, and easier to maintain—comparable to Bitcoin—within five years.

Bullish sentiment is now building as ETH/BTC tests the upper boundary of a multi-year “bearish parabola,” a curved resistance trendline that has capped price action since December 2021. Technical analyst Jimie noted on May 3 that this resistance may be losing strength, potentially opening the door for a breakout. However, if the curve continues to hold, ETH/BTC could fall to the 0.016 BTC level once again—retesting the same support area that launched the 2019 rally.

While many hope for a turnaround, Ethereum continues to face criticism from Bitcoin purists. Adam Back, an early architect of Bitcoin’s proof-of-work consensus, argues that Ethereum’s growing complexity is a liability. He claims that the account-based model Ethereum uses is unnecessarily complicated compared to Bitcoin’s unspent transaction output (UTXO) system, which he views as more secure and scalable.

Back is also critical of Ethereum’s PoS mechanism, which he believes consolidates power among wealthy insiders by redirecting miner rewards to large token holders. “At this point, just flush ETH before it hits zero and buy Bitcoin,” he said, asserting that no amount of architectural reform can salvage what he sees as a fundamentally flawed design.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.