Bitcoin–Ethereum Ratio 2026: BTC/ETH Tracker & Crypto Rotation Analysis
Is BTC dominance expanding? We track the BTC/ETH ratio, correlation breaks, momentum spreads, and crypto rotation regimes. Research-only.
Last updated: Apr 8, 2026 · BTC: $71,950 · ETH: $2,200 · BTC/ETH: 32.7
QUICK ANSWER · AS OF Apr 8, 2026
What is the BTC/ETH ratio in 2026?
The BTC/ETH ratio is 32.7 (3y avg: 22). BERI: 53/100 (HIGH). BTC at $71,950, ETH at $2,200. Current regime: BTC ↓ / ETH ↓ — Altcoin winter.
BTC/ETH Ratio
32.7
3Y Average
22
Regime
BTC ↓ / ETH ↓
BERI
53/100 (HIGH)
BTC/ETH ratio at multi-year highs. BTC institutional adoption (ETFs) is widening the gap while ETH faces L2 value leakage and DeFi regulatory headwinds.
BERI 53/100 — BTC/ETH ratio at 32.7 vs 3y avg 22 — 49% above baseline. 30D correlation 0.82 (baseline 0.9). BTC dominance expanding — altcoin winter regime.
BTC/ETH
32.7
3Y Avg
22
Regime
BTC ↓ / ETH ↓
BERI Composite Score
Ratio Deviation (40%)
100/100
BTC/ETH ratio at 32.7 (3y avg: 22.0, above by 49%).
Correlation Break (35%)
27/100
30D correlation: 0.82 (baseline: 0.90). Correlation is falling — break magnitude: 0.08.
Relative Momentum Spread (25%)
13/100
30D spread: +4.0pp (BTC: -8.5%, ETH: -12.5%). BTC outperforming.
Rolling Correlation — BTC vs ETH
BTC and ETH are both crypto assets with a historically very high correlation (~0.90). When the correlation drops, it signals divergent fundamentals — BTC-specific or ETH-specific factors are dominating over the shared crypto beta.
| Window | Correlation | Interpretation |
|---|---|---|
| 30D | 0.82 | Below baseline — weakening |
| 90D | 0.78 | Moderate — divergent trends emerging |
| 180D | 0.80 | Still elevated but declining |
| Baseline | 0.90 | Historical norm (~0.90) |
BTC-ETH Regime Map
BTC ↑ / ETH ↑
Broad crypto rally
BTC ↓ / ETH ↑
Altcoin rotation
BTC ↑ / ETH ↓
BTC dominance surge
BTC ↓ / ETH ↓
Altcoin winter
← CURRENT
Current regime
BTC ↓ / ETH ↓
Historical frequency
30%
Avg duration
4.2 mo
30D spread
+4pp
Both BTC and ETH are declining, but ETH is falling significantly faster (-35% YTD vs -15% for BTC). The BTC/ETH ratio has surged from ~22 (3y avg) to 33.2, reflecting BTC's relative strength driven by institutional ETF flows and the "digital gold" narrative. ETH faces headwinds from L2 value leakage and DeFi regulatory risk.
Ratio Drivers — Context Only (Not Scored)
Spot BTC ETFs channel institutional capital directly into BTC, bypassing ETH. This structural flow asymmetry widens the BTC/ETH ratio over time.
Layer 2 rollups (Arbitrum, Optimism, Base) capture transaction fees that previously accrued to ETH L1. Post-Dencun, ETH gas revenue has declined significantly.
Regulatory uncertainty around DeFi protocols disproportionately affects ETH, which hosts the majority of DeFi TVL. BTC's "digital gold" narrative is less exposed to DeFi regulation.
BTC's positioning as digital gold / macro hedge attracts different capital than ETH's "decentralized compute" narrative. When both narratives weaken simultaneously, the ratio can converge.
Historical BTC/ETH Ratio Episodes
| Period | Regime | What happened |
|---|---|---|
| 2017 | BTC ↑ / ETH ↑ | ETH surged on ICO demand; ETH/BTC hit 0.15. Peak altcoin season. |
| 2021 | BTC ↑ / ETH ↑ | ETH rallied on DeFi and NFT activity; ETH/BTC reached 0.08. |
| Sep 2022 | BTC ↓ / ETH ↑ | ETH briefly outperformed BTC around the Merge (PoW → PoS transition). |
| Jan 2024 | BTC ↑ / ETH ↓ | BTC surged on spot ETF approval; ETH lagged. BTC dominance rose sharply. |
| Apr 2026 | BTC ↓ / ETH ↓ | ETH/BTC ratio hit 0.030, the lowest since 2020. BTC/ETH ratio at 33.2. |
Macro Context
BTC Dominance
58.5%
Total Crypto MCap
$2.8T
DXY
97.5
ETH/BTC
0.03
BTC dominance at 58.5% reflects institutional preference for BTC over altcoins. The BTC/ETH ratio at 33.2 (vs 3y avg of 22) signals a structural shift — BTC is absorbing the majority of crypto inflows via ETFs while ETH faces L2 competition and declining fee revenue. This is the deepest "altcoin winter" since 2019.
Data Freshness
| Source | Cadence | Lag | As of |
|---|---|---|---|
| BTC Spot (public) | 24/7 | Real-time | Apr 8, 2026 |
| ETH Spot (public) | 24/7 | Real-time | Apr 8, 2026 |
| BTC-ETH Correlation | Recalculated daily | ~24 hours | Apr 8, 2026 |
| Returns / Regime | Recalculated daily | ~24 hours | Apr 8, 2026 |
Methodology — BERI v0.1-beta
1) Ratio Deviation (40%)
score = min(|ratio − baseline| / (baseline × 0.30) × 100, 100)
A 30% deviation from the 3-year average BTC/ETH ratio = score of 100.
2) Correlation Break (35%)
score = min(|corr_30d − 0.90| / 0.3 × 100, 100)
BTC-ETH baseline correlation is ~0.90 (very high). A 0.3 break from baseline = score of 100.
3) Relative Momentum Spread (25%)
score = min(|spread_30d| / 30 × 100, 100)
A 30pp 30D return spread between BTC and ETH = score of 100.
Signal thresholds: LOW (0–24) · ELEVATED (25–49) · HIGH (50–74) · CRITICAL (75–100)
Known limitations: BTC/ETH ratio is price-based (not market-cap adjusted); correlation is backward-looking; both assets trade 24/7 but liquidity varies by exchange and time zone; v0.1-beta does not account for ETH staking yield, BTC ETF flows, or on-chain metrics.
Version: v0.1-beta · Research use only — not a trading signal.
Frequently Asked Questions
What is the BTC/ETH ratio? ▾
The BTC/ETH ratio measures how many ETH one BTC can buy. Currently at 32.7 (3-year average: 22). A rising ratio means BTC is outperforming ETH. The ratio is near multi-year highs, reflecting BTC's institutional adoption via ETFs and ETH's structural headwinds (L2 value leakage, declining gas revenue).
Why is ETH underperforming BTC in 2026? ▾
ETH faces multiple headwinds: (1) BTC spot ETFs channel institutional capital directly into BTC, bypassing ETH; (2) Layer 2 rollups capture fees that previously accrued to ETH L1; (3) DeFi regulatory uncertainty disproportionately affects ETH; (4) BTC's "digital gold" narrative is simpler and more institutional-friendly. The ETH/BTC ratio has fallen to 0.030 — the lowest since 2020.
What are crypto rotation signals? ▾
Crypto rotation refers to capital flowing between BTC and altcoins (led by ETH). When BTC dominance rises and the BTC/ETH ratio increases, capital is rotating from altcoins to BTC — a "risk-off" signal within crypto. When the ratio falls, capital is rotating into altcoins — historically associated with "altcoin season." The current BTC/ETH ratio of 32.7 vs 3y avg of 22 signals deep BTC dominance.
Is this an altcoin season indicator? ▾
BERI tracks the BTC/ETH ratio, correlation, and momentum spread — all of which are inputs to altcoin season analysis. When BERI is HIGH or CRITICAL, it indicates significant BTC-ETH divergence, which historically precedes or accompanies altcoin winter. A falling BERI (converging ratio) can signal the start of altcoin season. Current BERI: 53/100 (HIGH).
Is this a trading signal? ▾
No. Research-only. BERI quantifies BTC-ETH ratio regimes and crypto rotation dynamics; it does not provide investment advice.
📎 Cite This Data ▾
APA 7th Edition
AhaSignals. (2026). BTC–ETH Ratio Index (BERI). Retrieved April 18, 2026, from https://ahasignals.com/btc-eth-ratio-tracker/
Methodology: v0.1-beta
Data as-of: Apr 8, 2026
Research purposes only. Not investment advice. All index inputs from free, public, clickable sources.
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This page is for informational and research purposes only — not investment advice. Cryptocurrency markets are volatile. Past ratio patterns and correlation regimes do not predict future performance. BERI methodology version: v0.1-beta. © 2026 AhaSignals. All rights reserved.