Altcoins are going through a hard time as the altcoin season has taken too long to happen. This simply means that the altcoin bear cycle has lasted far too long. However, while the altseason is not in sight yet, Ethereum is faring quite well against Bitcoin (BTC). 

Social metrics are showing that investors are currently pivoting to Ethereum over Bitcoin. The pivot is majorly as a result of euphoric predictions across ETH. Additionally, Ethereum has been showing mild dominance over BTC in recent times. 

ETH Traders Turn Euphoric but Cautious Towards BTC; Santiment  

A recent post on X on June 2 by Santiment – an on-chain and social metric analysis platform – shows that Bitcoin and Ethereum are depicting two distinct scenarios. Bitcoin has continued to react in relation to the American economy. Notably, BTC’s price is reacting in tandem with the stock market. This was clearly seen as Bitcoin rose to $105,000 on June 2 following Jerome Powell’s speech on U.S inflation data. 

Additionally, Santiment also confirmed that social mentions around Bitcoin were divided in a 1.3 bullish comment for every 1 bearish comment. The ratio highlights the crowd’s association of BTC with the stock market and the U.S economy. 

On the other hand, mentions around Ethereum showed a different picture. The crowd is very bullish on the price of ETH as per social metrics. Ethereum’s bullish versus bearish comments across social are in the ratio 3.0 to 1, in favor of bullish comments. 

Santiment associated this with the ETH’s rally over the past one month. Ethereum has rallied by over 43% over the past month. Bitcoin, on the other hand, has rallied only 11% as per CoinMarketCap data. 

Ethereum Shows Mild Dominance over BTC

In May, Ethereum recorded a strong dominance over Bitcoin. In particular, between May 11 to 16, the ETH/BTC pair shot up from around 0.018 to a peak of 0.027. This shift was a result of both fundamental and sentimental shift from BTC to ETH. 

Prior the shift, Bitcoin had dominated Ethereum leading to a 5-year drop in the ETH/BTC pair as reported by Blockchain News back in late April 2025. While the recent rally shifted in favor of Ethereum, the ratio has dropped to 0.0248 today as per data by TradingView. The current level shows consolidation in the pair ratio, but still ETH has mild dominance over BTC. 

The chart above also shows potential recovery. A breakout above key resistance level around 0.027 could potentially shift the momentum in favor of ETH, yet again. Under the current setup, it is thus safe to say that Ethereum is gaining ground towards dominating Bitcoin. 

Ethereum vs BTC Price Performance 

On the day, Ethereum is performing quite fairly compared to Bitcoin. As per the ETH/USDT daily chart on TradingView, ETH is currently trading at $2,620 as at press time. The current price level means over 4.5% surge on the day. 

However, Ethereum is still gearing towards making a fourth attempt to flip $2,700 into support. The coin has breached this level in previous occurrences but failed to hold it. 

On the other hand, the BTC/USDT daily chart on TradingView shows that BTC is trading at $105, 303. This level marks around 1.5% surge on the day. Hence, ETH is outperforming BTC in the Tuesday trading session. 

With social metrics showing that traders are in favor of ETH over BTC, Ethereum could continue to outperform Bitcoin. However, this will be determined by price performance moving forward. 

Analysts are even worried about the occurrence of the altcoin season this year, meaning BTC remains dominant in the broader crypto sector. Crypto Dan, for instance, pointed out that the altcoin season has stretched to 1,650 days. This is way above the usual 1,400 days, as per in the previous cycles. Delayed altcoin season could potentially shake the confidence of altcoin investors moving forward.