Ethereum: second attempt failed to outperform Bitcoin

Yesterday the prezzo di Ethereum, for the second time in the last two weeks, tried to outperform that of Bitcoin, and for the second time the attempt failed

In reality, in the first half of May, a very first attempt had succeeded, but it was only a rebound

The situation has now returned to normal, but many are expecting further attempts by Ethereum to outperform Bitcoin, and some of these might eventually succeed

The suffering of Ethereum: Bitcoin still dominates

The prezzo di Ethereum is still in sofferenza

At the end of October last year, it was hovering around $2,400, but then thanks to the so-called Trump trade it managed to climb back to $4,000. However, that mini-bubble started to burst already in the second half of December, and from February it burst completely

In fact, to tell the truth, at the end of February the price of ETH even fell below the initial $2,400, reaching a bottom in 2025 even below $1,500

The problem could have been the strong competition from Solana, given that in the past ETH also benefited, indirectly, from the success of many memecoins on Ethereum, while now the vast majority of memecoins are launched on Solana.

When Trump announced the launch of his memecoin on Solana in January, Ethereum ended up suffering quite a bit

Note that the current price of ETH, just above $2,600, is not much higher than that of October 2024

The comparison between Ethereum (ETH) and Bitcoin (BTC)

Instead, the price of Bitcoin in the same period went from less than $70,000 to more than $100,000.

To get a more precise idea of how much BTC is outperforming ETH, it is useful to analyze the trend over time of the price of Ethereum expressed in Bitcoin.

At the end of October, 1 ETH was worth about 0.035 BTC, and with the Trump trade, it temporarily rose to 0.040

The problem is that starting from mid-December it had already fallen below 0.035 BTC, and during the month of January it even dropped to 0.030.

So from October to January, Ethereum had underperformed Bitcoin

Starting from February, an additional retracement began, which ended only at the beginning of May, causing the price of Ethereum in Bitcoin to plummet first to 0.027 BTC, and then even below 0.020

The minimum peak of 0.018 BTC reached on April 12 was achieved at a level so low that it hadn’t been seen since January 2020

In light of this, it is evident that something serious has happened to Ethereum, and it is very likely that the problem is the one already mentioned before, namely the very strong competition from Solana in the memecoin sector

The turning point of Ethereum (ETH)

On May 8, however, there was a turning point

Not only has the descending phase ended, but there has also been a true bull rebound

In fact, within just three days, the price of Ethereum in Bitcoin has returned above the 0.024 BTC mark, which is still well below the 0.035 of October, but significantly higher than the bottom of 2025

However, it was only a rebound, and not a restart, so much so that the price of Ethereum in dollars is still more or less at the levels of October

In the last two weeks, however, there have been two attempts to return at least above 0.025 BTC

The first occurred between May 13 and 14, and it failed in just over 24 hours. The second, however, happened just yesterday, and it failed in less than 24 hours

In the same days, the price of Ethereum in dollars attempted twice to surpass $2,700. The first time, it actually didn’t even manage to rise above it temporarily, while at least yesterday it even managed to climb back above $2,750 for a few hours

Both of these attempts, however, failed within less than 24 hours

The forecasts on the crypto market

Despite this, there are several analysts who believe that Ethereum can eventually manage to solidly return above $2,700

In particular, a hypothesis that is circulating widely is the one that predicts a decline in the dominance of Bitcoin

In October 2024, Bitcoin’s dominance was below 60%. During the mini-altseason in November, caused by the Trump trade, it dropped to 55%, but starting from December, it began a new upward phase that first brought it above 60%, and then on May 7, 2025, even above 65%

Well, on May 8th, a downturn began that not only interrupted the upward trend, but within a few days brought it back to 62%

Subsequently, however, there was a rebound, so much so that it has now returned above 64%, but the upward trend for now seems to actually be interrupted

According to several analysts, there is a possibility that it may drop back to 60%, or perhaps even lower, and this would mean that the altcoins would be outperforming Bitcoin