Ethereum gains 30% on Bitcoin in 2 days after 80% drop since 2022

By: cryptoslate|2025/05/09 18:30:05

Ethereum outperformed Bitcoin by nearly 30% over two sessions ending May 9, breaking out of a multi-year downtrend that saw the ETH/BTC pair drop more than 78% from its 2022 peak.The move began May 7, when ETHBTC rebounded from 0.0178, its lowest level since early 2020, to reach 0.0217 by May 9.The two-day gain marks the strongest short-term relative performance since September 2022. The pair had trended lower for over two years after topping near 0.083 in early January 2022.Despite the rally, ETH remains down roughly 75% from that cycle high.Thirty-day annualized volatility in the pair surged to 62%, marking its highest reading in over a year, based on CryptoSlate’s analysis of daily TradingView data.Price action through early May had pushed ETH/BTC into what many viewed as structurally oversold territory. While the recent bounce retraced some of those losses, the ratio continues to trade below key levels, including 0.025, shy of the March breakdown, and the 50-day simple moving average near 0.030.A sustained move above those levels would be required to shift broader sentiment.The pair’s recent low was accompanied by a maximum drawdown exceeding 79% from the 2022 high. ETH/BTC remains down 36% in the year to date, with Bitcoin dominance remaining strong, down just 2.4% at 63%.The post Ethereum gains 30% on Bitcoin in 2 days after 80% drop since 2022 appeared first on CryptoSlate.

In three weeks, Drift, Hyperbridge, and KelpDAO were consecutively hacked, resulting in nearly $900 million in losses. Polygon's CEO wrote that the problem lies not with any single team, but with the "notary" style architecture shared by the entire industry—relying on one or two signers to stamp cro...

Major Upgrade on Web: 10+ Advanced Chart Styles for Deeper Market Insights

To deliver more powerful and professional analysis tools, WEEX has rolled out a major upgrade to its web trading charts—now supporting up to 14 advanced chart styles.

Morning Report | Aethir secures a $260 million enterprise contract with Axe Compute; New Fire Technology acquires Avenir Group's trading team; Polymarket's trading volume surpassed by Kalshi

Overview of Important Market Events on April 23

Why a Million-Follower Crypto KOL Chooses WEEX VIP?

Discover why top crypto KOL Carl Moon partnered with WEEX. Explore the WEEX VIP ecosystem, 1,000 BTC protection fund, and exclusive rewards for serious traders.

CoinEx Founder: The Crypto Endgame in My Eyes

The industry will not disappear, but it will shrink significantly.

Spark Coin (SPK): Explodes 73% as Aave Bleeds $15B, A Good Investment Now?

Spark coin (SPK) surged 73% as $15 billion fled Aave after the KelpDAO hack. This article explains what Spark is, why it’s pumping, and whether it is a good investment right now.

As Aave's building collapses, Spark's high-rise is rising

The growth of Spark's TVL is essentially a redistribution of existing capital in DeFi among protocols, rather than new capital entering the market. The "cake" of the entire industry has shrunk in the short term, and no one can remain unaffected.

RootData: Q1 2026 Cryptocurrency Exchange Transparency Research Report

In this report, Binance continues to rank first with the highest trading volume and wealth potential, while OKX has risen to second place as one of the few exchanges with an increase in trading volume this month.

What Is Memecoin Trading? A Beginner's Guide to How It Works, the Risks, and 2026's Hottest Tokens

Memecoins surged 30%+ at the start of 2026 while Bitcoin was flat. RAVE spiked 4,500% then crashed 90% in days. MAGA jumped 350% overnight. This guide explains exactly how memecoin trading works — and how to not blow up your account doing it.