U.Today - Ethereum (ETH), the second largest cryptocurrency, has not been cheaper in a pair with Bitcoin (BTC) in almost five years. It dropped close to the levels it was at when Bitcoin (BTC) was trading below $10,000. At the same time, the Ethereum (ETH) community remains enthusiastic about its potential despite much criticism.
ETH/BTC loses 19% in no time, hits April 2020 lows
ETH/BTC, the price of Ethereum (ETH) in a pair with Bitcoin (BTC), the largest cryptocurrency, hit unbelievably low levels today, Feb. 3, 2025. As the cryptocurrency segment collapses, ETH/BTC dropped to 0.02389, which is equal to 41,86 Ethers per 1 Bitcoin (BTC).The most painful dip happened at about 5:00 a.m. (UTC): ETH/BTC slipped from 0.029 to 0.02389 in less than 15 minutes. Today’s ETH/BTC dip is the lowest since April 2020.
It means that this crucial indicator was at today’s levels when BTC block rewards were 12.5 Bitcoins per block, Terra and FTX had not celebrated their first anniversaries and Bitcoin (BTC) was recovering from Black Friday 2020, struggling to hold between $6,000 and $8,000.
ETH/BTC is down by 50% in the last 12 months. Meanwhile, Bitcoin (BTC) dominance jumped over 63%, its highest since Q4, 2021.
Today, amid a devastating cryptocurrency collapse, the Bitcoin (BTC) price dipped to $92,000 while Ethereum (ETH) touched $2,450. Aggregated cryptocurrency capitalization has seen $230 billion wiped out in the last 24 hours.
This is one of the most painful crypto plunges in history.
$2.32 billion: Liquidation tsunami accelerates
The cryptocurrency markets dumped due to the market’s panic triggered by potential new restrictions in trading between the U.S., Canada, China and Mexico.In the last 24 hours, almost 750,000 traders were liquidated on crypto derivatives exchanges, CoinGlass data says. In total, they lost over $2,320,000,000 in equivalent, with $38.78 million BTCUSDT long on HTX being the largest liquidation.
The Cryptocurrency Fear and Greed Index dropped to 44/100, its worst since October 2024. In just seven days, crypto sentiment switched from "Extreme Greed" to "Fear."
By press time, some major assets have slightly recovered: Bitcoin (BTC) is changing hands at $95,400, while Solana (SOL) is back above $200. Ethereum (ETH) and XRP are still in deep red.