Ethereum Outpaces Bitcoin with 46% Q2 Surge
Key Takeaways
- Ethereum (ETH) delivered a return of 45.98% in Q2 2025 – significantly outperforming Bitcoin (BTC), which returned 30.2%.
- On May 29, a rare decoupling between ETH and BTC occurred – ETH rose while BTC declined.
- Large investors (whales) and institutional players are shifting capital from Bitcoin to Ethereum.
- The ETH/BTC price ratio shows signs of a potential continued upward trend.
Ethereum Surpasses Bitcoin – What’s Behind It?
Ethereum significantly outperformed Bitcoin in the second quarter of 2025, delivering a return of nearly 46%. While BTC reached new all-time highs during the period, ETH remained in a sideways trend for much of the time. However, a trend reversal began to emerge at the end of May: On May 29, Ethereum rose by 1.87% to a three-month high of USD 2,791, while Bitcoin fell by 2.01%. This opposite price movement is rare and is referred to as “ETH-BTC decoupling.”
ETH/BTC Ratio Shows Strength
The ratio between Ethereum and Bitcoin (ETH/BTC) is an important indicator for market rotations. Over the past four trading days, the ratio increased by approximately 6%, while BTC lost more than 5%. ETH declined by only 1% during the same period, indicating relative strength. Such movements often signal an upcoming capital rotation – away from Bitcoin and into Ethereum.
Capital Flows Confirm the Trend Reversal
On May 29, Bitcoin ETFs (Exchange Traded Funds) recorded outflows of approximately USD 340 million. At the same time, USD 91.9 million flowed into Ethereum ETFs. Notably, while the IBIT ETF by BlackRock was primarily affected on the Bitcoin side, Ethereum products from Fidelity and Bitwise reported fresh inflows. Additionally, so-called “whales” – addresses holding more than 1,000 ETH – have significantly increased their holdings in recent days.
Historical Patterns Support Ethereum
A comparable scenario occurred in early May: ETH broke out of a prolonged sideways phase and rose by 50% within a few days, while Bitcoin showed little movement. This pattern appears to be repeating itself. Bitcoin is once again stuck in a narrow trading range – a potential advantage for Ethereum, which could set itself apart through its relative strength.
Our Assessment
Ethereum is currently showing multiple signals of a possible continuation of its upward trend. The combination of positive price performance, increasing strength relative to Bitcoin, institutional inflows, and heightened activity from large investors points to a rotation in favour of ETH. Anyone investing in or trading cryptocurrencies should keep a close eye on Ethereum in the coming weeks. The market structure is strongly reminiscent of previous phases in which Ethereum temporarily outperformed Bitcoin.
Sources
- Glassnode
- TradingView
| Symbol | ETH |
| Coin type | Alt Coin |
| Transaction Speed | Medium |
| Pros |
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| Cons |
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| Further practical applications | |
| Price | 2535.02 |
| 24h % | 0.50 % |
| 7d % | 0.14 % |
| 30d % | 37.86 % |
| 60d % | 32.65 % |
| 1y % | -32.74 % |
| Market Cap | $306,043,741,533.00 |
| Official Links | Website | Source Code |
| Socials | Reddit | X |
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