Ethereum (ETH) has been facing a challenging time, with four consecutive red monthly candles signaling a sustained bearish trend.
March alone saw ETH drop by 18.47%, marking a decline not seen since the bear market of 2022.
This has sparked debates among analysts about whether Ethereum is nearing a bottom or if further downside is imminent.
ETH/BTC Ratio Hits a 5-Year Low
On March 30, the ETH/BTC ratio dropped to 0.021, its lowest level in five years.
This indicates Ethereum’s underperformance against Bitcoin, raising concerns among investors.
For context, the last time ETH/BTC was at this level, Ethereum was valued between $150-$300 in May 2020.
Ethereum Network Activity Declines
Ethereum’s monthly fees fell to $22 million in March 2025, the lowest since June 2020.
This drop reflects reduced network utility and diminished market interest.
Lower fees often signal declining demand for transactions on the Ethereum blockchain.
Potential Bottom in Sight?
Despite the bearish trend, analysts like Venture Founder suggest that ETH/BTC might bottom out between 0.017 and 0.022 in the coming weeks.
They anticipate a recovery after May’s Federal Open Market Committee (FOMC) meeting when the Fed is expected to shift from tightening to easing monetary policy.
Historical Trends Favor Recovery
Ethereum’s history shows that after three or more consecutive bearish months, a short-term bottom typically forms.
In 2018, ETH saw seven consecutive red months but rebounded by 83% after the correction.
In June 2022, following three bearish months, Ethereum consolidated for nearly a year before recovering.
Read more: From Memecoins to Real-World Assets: The Future of Crypto Investments
April Offers Hope for Investors
Historically, Ethereum has a 75% probability of posting positive returns in April.
Q2 has been Ethereum’s strongest quarter, with average returns reaching as high as 60.59%.
Ethereum Price Predictions for April
Market analysts forecast that ETH could reach a minimum of $2,685 and a maximum of $2,896 this month.
The average trading value is expected to hover around $2,791 during April.
ETH/BTC Conversion Rate Update
Today’s ETH/BTC conversion rate stands at 0.02258 BTC, reflecting a decrease of 4.94% over the last 24 hours4.
Ethereum has dropped by 19.40% against Bitcoin in the last month, further highlighting its underperformance.
How Crypto.pk Can Help You Navigate Ethereum’s Volatility
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FAQs
Is Ethereum likely to recover soon?
Historical trends suggest that Ethereum may recover in Q2, with April showing strong potential for positive returns.
Why is ETH underperforming compared to BTC?
The ETH/BTC ratio reflects reduced network activity and lower demand for Ethereum transactions, contributing to its underperformance.
How does Crypto.pk ensure Shariah compliance?
We rigorously vet all digital assets to ensure they meet Islamic financial principles before offering them to clients.
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