{"id":106832,"date":"2026-06-21T00:03:03","date_gmt":"2026-06-21T00:03:03","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=106832"},"modified":"2026-06-21T00:03:03","modified_gmt":"2026-06-21T00:03:03","slug":"eth-btc-ratio-falls-back-to-early-2023-levels-as-traders-debate-ethereum-value","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=106832","title":{"rendered":"ETH\/BTC Ratio Falls Back To Early-2023 Levels As Traders Debate Ethereum Value"},"content":{"rendered":"<div>\n<h2 class=\"wp-block-heading\">TL;DR<\/h2>\n<ul class=\"wp-block-list\">\n<li>Woetoe says the ETH\/BTC ratio is near 0.027, back around early-2023 levels.<\/li>\n<li>The analyst contrasted that with the 2021 peak near 0.088.<\/li>\n<li>A separate ETHUSDT TradingView setup shows bearish correction risk after a strong weekly open.<\/li>\n<\/ul>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">The ETH\/BTC ratio at 0.027. Back to early 2023 levels.In 2021 at the peak it was 0.088. Three times what it is today.<a href=\"https:\/\/x.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$ETH<\/a> is historically cheap against bitcoin on a relative basis.Contrarian bet or structural decline? <a href=\"https:\/\/t.co\/sF9DgKyKwq\" rel=\"nofollow\">pic.twitter.com\/sF9DgKyKwq<\/a><\/p>\n<p><img data-recalc-dims=\"1\" fetchpriority=\"high\" decoding=\"async\" width=\"3630\" height=\"1616\" class=\"wp-image-686041\" src=\"https:\/\/bitcoinist.com\/wp-content\/uploads\/2026\/06\/tv_08_ethusdt_ethusdt_bearish_correction_after_strong_weekly_open_1_660.png?resize=3630%2C1616\" alt=\"TradingView chart referenced in this analysis\" srcset=\"https:\/\/bitcoinist.com\/wp-content\/uploads\/2026\/06\/tv_08_ethusdt_ethusdt_bearish_correction_after_strong_weekly_open_1_660.png?w=3630 3630w, https:\/\/bitcoinist.com\/wp-content\/uploads\/2026\/06\/tv_08_ethusdt_ethusdt_bearish_correction_after_strong_weekly_open_1_660.png?w=640 640w, https:\/\/bitcoinist.com\/wp-content\/uploads\/2026\/06\/tv_08_ethusdt_ethusdt_bearish_correction_after_strong_weekly_open_1_660.png?w=768 768w, https:\/\/bitcoinist.com\/wp-content\/uploads\/2026\/06\/tv_08_ethusdt_ethusdt_bearish_correction_after_strong_weekly_open_1_660.png?w=980 980w, https:\/\/bitcoinist.com\/wp-content\/uploads\/2026\/06\/tv_08_ethusdt_ethusdt_bearish_correction_after_strong_weekly_open_1_660.png?w=1536 1536w, https:\/\/bitcoinist.com\/wp-content\/uploads\/2026\/06\/tv_08_ethusdt_ethusdt_bearish_correction_after_strong_weekly_open_1_660.png?w=2048 2048w, https:\/\/bitcoinist.com\/wp-content\/uploads\/2026\/06\/tv_08_ethusdt_ethusdt_bearish_correction_after_strong_weekly_open_1_660.png?w=750 750w, https:\/\/bitcoinist.com\/wp-content\/uploads\/2026\/06\/tv_08_ethusdt_ethusdt_bearish_correction_after_strong_weekly_open_1_660.png?w=1140 1140w, https:\/\/bitcoinist.com\/wp-content\/uploads\/2026\/06\/tv_08_ethusdt_ethusdt_bearish_correction_after_strong_weekly_open_1_660.png?w=3000 3000w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<p>\u2014 Woetoe (@cryptowoetoe) <a href=\"https:\/\/x.com\/cryptowoetoe\/status\/2068249341777649976?ref_src=twsrc%5Etfw\" rel=\"nofollow\">June 20, 2026<\/a><\/p><\/blockquote>\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/bitcoinist.com\/glossary\/ethereum\/\">Ethereum<\/a>\u2019s relative performance against <a href=\"https:\/\/bitcoinist.com\/glossary\/bitcoin\/\">Bitcoin<\/a> is back under pressure. In a June 20 X post, Woetoe said the ETH\/BTC ratio is at 0.027, bringing it back to early-2023 levels. The analyst contrasted that with the 2021 peak around 0.088 and asked whether ETH is now a contrarian bet or facing structural decline.<\/p>\n<p class=\"wp-block-paragraph\">That question captures the core debate around Ethereum right now. A low ETH\/BTC ratio can look attractive to investors who believe Ethereum will eventually regain leadership. It can also be a warning that capital continues to prefer Bitcoin over the broader smart-contract ecosystem.<\/p>\n<h2 class=\"wp-block-heading\">ETHUSDT Chart Shows Correction Risk<\/h2>\n<p class=\"wp-block-paragraph\">The dollar chart is not offering a simple bullish answer either. SwallowAcademy\u2019s June 20 TradingView idea described ETHUSDT as entering a bearish correction after a strong weekly open. The analyst said the initial push was unusually aggressive, which increased the need for a deeper pullback to rebalance the move.<\/p>\n<p class=\"wp-block-paragraph\">The setup highlighted a broken market structure and price rolling over below the $1,774 high. The stated game plan focused on selling a retest into a $1,723 entry zone, with $1,660 referenced in the idea title as part of the corrective framework.<\/p>\n<h2 class=\"wp-block-heading\">A Relative-Value Setup With Real Risk<\/h2>\n<p class=\"wp-block-paragraph\">The combination creates an interesting but risky setup. ETH may look historically cheap against Bitcoin, but the ETHUSDT chart still shows corrective pressure. That means a relative-value trader may see opportunity while a momentum trader sees weakness.<\/p>\n<p class=\"wp-block-paragraph\">The distinction matters. Cheap can stay cheap if market structure keeps deteriorating. For ETH bulls, the first job is not to argue valuation; it is to reclaim technical strength and start outperforming BTC again.<\/p>\n<p class=\"wp-block-paragraph\">This report is based on information from <a href=\"https:\/\/x.com\/cryptowoetoe\/status\/2068249341777649976\" target=\"_blank\" rel=\"nofollow noopener\">Woetoe on X<\/a> and <a href=\"https:\/\/www.tradingview.com\/chart\/ETHUSDT.P\/pwvN1axQ-ETHUSDT-Bearish-Correction-After-Strong-Weekly-Open-1-660\/\" target=\"_blank\" rel=\"nofollow noopener\">TradingView SwallowAcademy<\/a>.<\/p>\n<p class=\"wp-block-paragraph\">This article was written by the News Desk and edited by <a href=\"https:\/\/bitcoinist.com\/author\/samuelrae\/\">Samuel Rae<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR Woetoe says the ETH\/BTC ratio is near 0.027, back around early-2023 levels. The analyst contrasted that with the 2021 peak near 0.088. A separate ETHUSDT TradingView setup shows bearish correction risk after a strong weekly open. The ETH\/BTC ratio at 0.027. Back to early 2023 levels.In 2021 at the peak it was 0.088. Three [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-106832","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/106832","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=106832"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/106832\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=106832"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=106832"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=106832"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}