BTC/ETH Ratio

BTC/ETH Ratio is an indicator of Bitcoin’s relative strength compared to Ethereum, expressed in the number of ETH per one BTC (or conversely, ETH/BTC shows the number of BTC per one ETH), and serves to evaluate risk appetite in the cryptocurrency market and determine the beginning or end of an "altseason." An increase in BTC/ETH (or decline in ETH/BTC) indicates a risk-off regime when capital flows into Bitcoin as the "safe haven" of the crypto market, while a decline in BTC/ETH (or increase in ETH/BTC) signals a risk-on regime and the start of altseason when investors switch to riskier altcoins with Ethereum as the leader, calculated as BTC price in USD divided by ETH price in USD.