Ether's ETH/BTC Ratio Reaches 10-Week Peak as It Surges Past Bitcoin: Could Fresh Highs Be Coming?
ETH demonstrated significant strength across both its USD and BTC trading pairs following the release of fresh DeFi regulatory guidance from the SEC and increased institutional accumulation of Ether.
The ETH/BTC trading pair has surged to its highest point in 10 weeks, indicating that Ether (ETH) is building positive momentum relative to Bitcoin (BTC) on the price charts.
ETH's position has strengthened following the cryptocurrency community's positive reception to more transparent DeFi regulatory frameworks issued by the US Securities and Exchange Commission (SEC). Concurrently, Bitmine expanded its Ether holdings by acquiring 71,524 ETH on April 13.
The ETH/BTC trading pair successfully penetrated a descending trendline resistance level that had persisted since August 2025. A daily candlestick closure above this critical trend line represents the initial breakout in several months.
The trading pair is currently positioned above both the 50-day and 100-day exponential moving averages at the 0.0310 level, with both indicators now functioning as dynamic support zones. The narrowing gap between these moving averages suggests the possibility of a bullish crossover should the current trajectory persist.
XWIN Research observed that a more robust fundamental shift favoring Ether stems from an April 13 SEC staff statement that clarified how DeFi front-ends and wallet interfaces may function without requiring broker-dealer registration under specific conditions, including no custody arrangements and neutral fee structures. XWIN Research added,
"On-chain data supports this shift. Active addresses are trending upward, indicating renewed network usage. Meanwhile, the Coinbase Premium Gap is improving, suggesting a recovery in U.S.-driven demand, often linked to institutional flows."
While the ETH/BTC trading pair demonstrates strength, enterprise-level accumulation is continuing to gain momentum. Bitmine's holdings have reached 4.87 million ETH, representing more than 4% of the total circulating supply, following the addition of 279,296 ETH during the previous 30-day period.
Will an Ether bull market resume?
Cryptocurrency analyst GugaOnChain identified a pronounced divergence in ETH futures market positioning. The worldwide open interest climbed to $16.37 billion on April 14, substantially exceeding its 14-day average. Funding rates throughout exchanges persist in negative territory at -0.0013%, reflecting short positioning against the ongoing rally.
Conversely, open interest surged to $6.04 billion, representing a 10.47% daily expansion on Binance. Funding rates on the platform shifted to positive territory at 0.015%, demonstrating increasing long positioning.
This scenario establishes a divergence between worldwide short positions and Binance-concentrated long positions. The analyst added,
"We face an extreme imbalance. With 40% of global ETH Open Interest on Binance, the fuel for a violent move is ready."
