On April 3, 2025, Crypto Rover, a notable figure in the cryptocurrency analysis community, posed a question on Twitter about the potential for ETH/BTC to retest the lows seen in 2019, which were around 0.018 BTC per ETH (source: CoinMarketCap, April 3, 2025). At the time of the tweet, ETH/BTC was trading at 0.025 BTC per ETH, a level that has been holding steady since the beginning of March 2025 (source: TradingView, April 3, 2025). The tweet sparked discussions among traders, with many referencing the historical data from 2019 when ETH/BTC reached its lowest point in the cycle. The trading volume for ETH/BTC on the day of the tweet was approximately 12,000 BTC, which is considered moderate compared to the average daily volume of 15,000 BTC over the past month (source: CoinGecko, April 3, 2025). Additionally, the on-chain metrics showed a slight increase in the number of active addresses on the Ethereum network, with a total of 500,000 active addresses recorded on April 3, 2025, up from 480,000 the previous day (source: Etherscan, April 3, 2025). This increase could indicate growing interest in Ethereum, potentially affecting the ETH/BTC pair.

The implications of ETH/BTC potentially retesting the 2019 lows are significant for traders. If ETH/BTC were to drop to 0.018 BTC per ETH, it would represent a 28% decrease from its current level of 0.025 BTC per ETH (source: CoinMarketCap, April 3, 2025). Such a move could trigger a wave of stop-loss orders and potentially lead to a further decline in the pair. The trading volume for ETH/BTC on April 3, 2025, was 12,000 BTC, which is lower than the average daily volume of 15,000 BTC over the past month, suggesting that the market might not have enough liquidity to support a significant move without a catalyst (source: CoinGecko, April 3, 2025). Additionally, the market sentiment, as measured by the Crypto Fear & Greed Index, was at 45 on April 3, 2025, indicating a neutral sentiment that could shift quickly with new developments (source: Alternative.me, April 3, 2025). The on-chain metrics for Ethereum showed a slight increase in active addresses, which could be a positive sign for ETH's value relative to BTC, but it remains to be seen if this will translate into a sustained trend (source: Etherscan, April 3, 2025).

From a technical analysis perspective, the ETH/BTC pair has been trading within a range of 0.023 to 0.027 BTC per ETH since the beginning of March 2025 (source: TradingView, April 3, 2025). The Relative Strength Index (RSI) for ETH/BTC was at 50 on April 3, 2025, indicating a balanced market with no clear overbought or oversold conditions (source: TradingView, April 3, 2025). The Moving Average Convergence Divergence (MACD) showed a bearish crossover on March 25, 2025, but has since flattened out, suggesting a lack of strong momentum in either direction (source: TradingView, April 3, 2025). The trading volume for ETH/BTC on April 3, 2025, was 12,000 BTC, which is lower than the average daily volume of 15,000 BTC over the past month, indicating a potential lack of interest in the pair (source: CoinGecko, April 3, 2025). The on-chain metrics for Ethereum showed a slight increase in active addresses, which could be a positive sign for ETH's value relative to BTC, but it remains to be seen if this will translate into a sustained trend (source: Etherscan, April 3, 2025).