Samson Mow, a well known Bitcoin entrepreneur and founder/CEO of JAN3, warned that latest positive aspects in Ether could possibly be brief lived as some buyers transfer earnings again into Bitcoin.
In keeping with his submit, many ETH consumers already maintain Bitcoin — typically from ICOs or insider positions — and are rotating that BTC into ETH to drive costs up.
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He argued that after Ether reaches a excessive sufficient degree, those self same holders might promote, leaving a recent set of consumers holding the bag.
“Nobody desires ETH in the long term,” he wrote, and he known as the promoting stress close to huge value marks a “Bagholder’s Dilemma.”
ETH/BTC Strikes Increase Questions
Primarily based on stories, the ETH/BTC ratio has jumped to about 0.036 on TradingView, up from a five-and-a-half-year low of 0.018 in April.
That rise has come whereas Ether surged in value; the token topped $4,310 in late buying and selling on Sunday and posted a weekly achieve of 21%.
Let me clarify what’s taking place with ETHBTC.
Most ETH holders have a number of BTC (ICO/insiders) and they’re rotating that BTC into ETH to pump it on new narratives (Ethereum Treasury co’s).
As soon as they’ve gotten it excessive sufficient, they’ll dump their ETH, creating new generational…
— Samson Mow (@Excellion) August 10, 2025
These numbers put Ether roughly 10% from its 2021 all-time excessive of $4,880. For proponents of Bitcoin, these shifts appear like a rotation again to altcoins that would reverse as soon as sellers take earnings.
Some market watchers learn the identical info otherwise. They see the latest ETH surge as a bullish signal and count on a extra advanced cycle: Ether might hit a recent peak and spark a mini altseason.
After that, capital might movement again into Bitcoin till BTC reaches about $140,000, earlier than rotating once more into Ether and different altcoins — a back-and-forth that has performed out in previous bull runs and makes a neat, one-way commerce unlikely.
Flows, Use Circumstances And On-Chain Alerts
Experiences have disclosed that institutional curiosity and new methods are additionally a part of the story. Nick Ruck, director at LVRG Analysis, pointed to institutional demand and “technique reserve performs” as drivers behind Ether’s climb to $4,300.
In keeping with Ruk, greater curiosity has helped DeFi platforms elevate whole worth locked. Staking, yield techniques and burning of charges change provide dynamics in contrast with earlier cycles, and people elements make as we speak’s rally completely different from the ICO-era rotations Mow described.
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Technical alerts add one other layer. Ether’s weekly candle closed at ranges not seen since November 2021, which provides momentum merchants one thing to look at.
On the similar time, Bitcoin dominance has slid by about 10% since late June, displaying capital has already shifted into altcoins in latest weeks.
These two tendencies can coexist — sturdy ETH momentum plus a still-present danger that profit-taking will set off a reversal.
Featured picture from Unsplash, chart from TradingView