Samson Mow, a widely known Bitcoin entrepreneur and founder/CEO of JAN3, warned that latest positive factors in Ether may very well be quick lived as some buyers transfer income again into Bitcoin.
In response to his publish, many ETH consumers already maintain Bitcoin — typically from ICOs or insider positions — and are rotating that BTC into ETH to drive costs up.
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He argued that after Ether reaches a excessive sufficient stage, those self same holders might promote, leaving a recent set of consumers holding the bag.
“Nobody needs ETH in the long term,” he wrote, and he known as the promoting stress close to massive value marks a “Bagholder’s Dilemma.”
ETH/BTC Strikes Increase Questions
Primarily based on reviews, the ETH/BTC ratio has jumped to about 0.036 on TradingView, up from a five-and-a-half-year low of 0.018 in April.
That rise has come whereas Ether surged in value; the token topped $4,310 in late buying and selling on Sunday and posted a weekly achieve of 21%.
Let me clarify what’s occurring with ETHBTC.
Most ETH holders have lots of BTC (ICO/insiders) and they’re rotating that BTC into ETH to pump it on new narratives (Ethereum Treasury co’s).
As soon as they’ve gotten it excessive sufficient, they’ll dump their ETH, creating new generational…
— Samson Mow (@Excellion) August 10, 2025
These numbers put Ether roughly 10% from its 2021 all-time excessive of $4,880. For proponents of Bitcoin, these shifts appear like a rotation again to altcoins that would reverse as soon as sellers take income.
Some market watchers learn the identical info otherwise. They see the latest ETH surge as a bullish signal and count on a extra complicated cycle: Ether might hit a recent peak and spark a mini altseason.
After that, capital might move again into Bitcoin till BTC reaches about $140,000, earlier than rotating once more into Ether and different altcoins — a back-and-forth that has performed out in previous bull runs and makes a neat, one-way commerce unlikely.
Flows, Use Instances And On-Chain Indicators
Stories have disclosed that institutional curiosity and new methods are additionally a part of the story. Nick Ruck, director at LVRG Analysis, pointed to institutional demand and “technique reserve performs” as drivers behind Ether’s climb to $4,300.
In response to Ruk, larger curiosity has helped DeFi platforms carry whole worth locked. Staking, yield ways and burning of charges change provide dynamics in contrast with earlier cycles, and people components make in the present day’s rally totally different from the ICO-era rotations Mow described.
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Technical indicators add one other layer. Ether’s weekly candle closed at ranges not seen since November 2021, which provides momentum merchants one thing to look at.
On the similar time, Bitcoin dominance has slid by about 10% since late June, exhibiting capital has already shifted into altcoins in latest weeks.
These two tendencies can coexist — robust ETH momentum plus a still-present threat that profit-taking will set off a reversal.
Featured picture from Unsplash, chart from TradingView
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