Analysis: ETH/BTC has formed a "golden cross" and has risen 25% since the low in June

The ETH/BTC ratio has recently formed a "golden cross," where the 50-day moving average breaks above the 200-day moving average. Since the beginning of June, ETH has consistently outperformed BTC, with the ETH/BTC ratio rising about 25% from the low on June 6.

Historical data shows that the performance of ETH/BTC after a golden cross has been inconsistent. After the golden cross on July 25, 2025, the ratio rose about 36% in the following four weeks but then turned to decline; after the golden cross in February 2021, it initially rose about 93%. However, the two golden crosses in May and August 2022 failed to maintain an upward trend. CoinDesk points out that the golden cross is a lagging indicator based on historical prices and does not necessarily mean that ETH will continue to outperform BTC thereafter.