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BTC 
ETH Ethereum broke through resistance against Bitcoin, which Tom Lee believes is an early signal of a broad recovery in the crypto market.
Key points:
The ETH/BTC ratio rose to 0.02858 after breaking through the resistance level that has been maintained since June.
Lee linked this trend to stablecoin growth, tokenization, the Ethereum project and regulatory progress.
The ratio remained low for three months, while recent capital outflows suggest that the prospects for recovery are uncertain.
Ethereum ratio breaks through
This week, Ethereum rose to 0.02858 BTC, clearing a technical hurdle that has suppressed the trading pair since June. Bitmine Chairman Tom Lee has always regarded the ETH/BTC ratio as a measure of market risk appetite and capital rotation. He said the breakthrough showed that the crypto market may be starting to turn around after months of weakness.
Lee attributed this trend to the expansion of stablecoins, tokenization and new projects built around Ethereum. He also mentioned falling oil prices and the progress of the CLARITY Act, factors that may provide support for the market in the second half of 2026.
"There are reasons for the ETH/BTC price ratio to rise in the second half of 2026, but in short, the narrative of Ethereum as a currency may gain more attention." Lee said.
Bitmine continues to buy Ethereum in a massive round of overweight activities, but Lee recently said that the most aggressive buying phase may be coming to an end. He also described a previous quarterly Ethereum sell-off as a routine portfolio adjustment rather than evidence of weak fundamentals.
Tom Lee's Outlook
Traders typically use the ETH/BTC ratio to assess whether funds are flowing from Bitcoin to more volatile crypto assets. Continued gains may support the rebound of the altcoin, but a short-term breakthrough alone does not confirm that the funding rotation has occurred.
Weak indicators are still worthy of attention. After this week's gains, the trading pair is still down 7.72% in three months. At the same time, spot Ethereum funds experienced capital outflows for seven consecutive weeks at the end of June, before capital flows began to improve.
Lee's long-term predictions are also very aggressive. Ethereum briefly reached about 0.15 BTC at its peak in 2017, and if the Ethereum price reaches US$250,000, based on the current Bitcoin price, the ratio will be more than 25 times higher than the historical record.
The coming months will reveal whether the resistance breakthrough in June developed into a lasting trend or turned into a short-lived rebound again. Ethereum has rebounded many times in its recent historical trend against Bitcoin, but has not yet returned to the relatively strong level reached in previous cryptocurrency cycles.
