Ethereum is gaining on Bitcoin inside the crypto majors. The Ethereum-to-Bitcoin ratio reached 0.03 on July 27, its strongest level in about 3 months, and over the past month Ethereum has risen 24% versus Bitcoin’s 8% gain.
The key point is that this looks selective, not like a broad altcoin rally: Ethereum is outperforming while Bitcoin is still firm. The next checkpoint is simple, the ratio holding above 0.03. If it does, that outperformance is still intact. If it slips back below, this move starts to look less convincing.
Ethereum holding that 3-month high versus Bitcoin is the price signal that sets tomorrow’s crypto tone.