The ETH/BTC ratio has recently formed a golden cross, with its 50-day moving average moving above the 200-day moving average. According to the report cited by ChainCatcher, ETH has outperformed BTC since early June, and the ratio has climbed about 25% from its June 6 low.
Past performance after similar signals has varied. On July 25, 2025, a golden cross was followed by an approximately 36% gain over the next four weeks before the ratio turned lower. In February 2021, the ratio at one point rose about 93% after the same signal. By contrast, two golden crosses seen in May and August 2022 did not lead to sustained upside.
CoinDesk said the golden cross is a lagging indicator based on historical price action. That means the signal alone does not show that ETH will necessarily keep outperforming BTC from here.
The ETH/BTC ratio has recently formed a golden cross, according to ChainCatcher, with the 50-day moving average crossing above the 200-day moving average.
ETH has outperformed BTC since early June. The report said the ETH/BTC ratio is up about 25% from its June 6 low.
Past moves after the signal have been mixed
Historical data shows the ETH/BTC ratio has not followed a single pattern after golden crosses.
- After a golden cross on July 25, 2025, the ratio rose about 36% over the following four weeks before turning lower.
- After a February 2021 golden cross, the ratio at one point gained about 93%.
- Two golden crosses in May and August 2022 did not produce a continued uptrend.
CoinDesk calls it a lagging indicator
CoinDesk said a golden cross is a lagging indicator derived from historical prices, and it does not mean ETH will necessarily continue to outperform BTC.
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