ETH to BTC Rate Drops to Lowest Since 2021

Key Points:

• ETH/BTC rate drops to 0.037, marking a 30-month low and a 30% decline since July 2023.
• The current exchange shows a 2.7% daily swing, with 1 ETH trading at 0.037 BTC.

ETH to BTC rate hits 30-month low at 0.037, down 30% since July 2023. Current price swing shows 2.7% decrease, with ETH trading at 0.037 BTC.

The ETH/BTC exchange rate recently dropped to 0.037, marking its lowest point since April 15, 2021. Such a decline represents a more than 30% decrease in Ethereum’s value relative to Bitcoin since July 1, 2023, according to Trading View data.

ETH to BTC Rate Hits 30-month Low

The ETH to BTC rate showed notable fluctuations on Thursday, with a 24-hour price swing of 0.00103236 BTC, equivalent to a 2.7% down. Currently, 1 ETH trades at 0.037 BTC, as reported by CoinMarketCap data.

To illustrate the exchange rate mechanics, when Ethereum trades at $2,488.42 and Bitcoin at $67,489.59, the formula of the ETH/BTC rate would be:

ETH/BTC Exchange Rate = 2488.42 / 67489.59 ≈ 0.0369

Read more: Bitcoin Spot ETF Inflows Hit $188M, BlackRock Leads at $166M

What the ETH/BTC Exchange Rate Tells Investors

Knowing the rate of the ETH/BTC trading pair is important for traders and investors since it reflects the relative strength of Ethereum against Bitcoin. If the rate goes up, then Ethereum is gaining value against Bitcoin, and vice versa.

Bitcoin, also known as “digital gold,” was used initially to introduce cryptocurrency, while Ethereum’s smart contracts expanded the use cases available on-chain. The ETH/BTC ratio charts the interaction of the two major cryptocurrencies.

Remember, the ETH/BTC rate doesn’t always indicate their respective value in fiat denominations, such as the US dollar. In fact, they could both be losing value in fiat terms, even if their value were to increase.