Bitcoin vs Ethereum

The price ratio is currently above its 50-day moving average, indicating BTC-USD has been gaining relative ground recently. The ratio is near its 50-day average, suggesting no significant relative extension. The z-score of 1.61 shows a notable deviation from the long-term average.

Performance is mixed — BTC-USD leads over the 63-Day timeframe while ETH-USD has been stronger in the short term (10-Day). This divergence can signal a momentum shift.

These two assets have a very strong positive long-term correlation of 0.85. The short-term and long-term correlations are closely aligned at 0.93 and 0.85, indicating a stable relationship. High correlation means these assets offer limited diversification benefit when held together.

ETH-USD has a stronger flow score (60/100 vs 58/100), indicating more consistent accumulation pressure. However, Chaikin Money Flow tells a different story — ETH-USD shows net outflow (-0.18) despite its higher flow score, suggesting the capital picture is more nuanced. Both assets are seeing above-average volume (BTC-USD: 1.3x, ETH-USD: 1.2x), adding conviction to the flow signals.

Both assets show similar trend momentum (34/100 vs 36/100), indicating neither has a clear directional edge. Risk profiles are comparable (14/100 vs 15/100). ETH-USD is 1.2x more volatile than BTC-USD on a 21-day basis (66.1% vs 53.2%), which means larger price swings in either direction. ETH-USD has experienced a deeper maximum drawdown over the past year (62.3% vs 49.7%), indicating higher tail risk. With a 63-day correlation of 0.93, these assets tend to move together — meaning the risk characteristics above are likely to manifest in tandem.

BTC-USD is currently gaining ground against ETH-USD, with the price ratio at 33.23 versus its 50-day average of 31.98. The 200-day z-score of 1.61 is notably extended, suggesting BTC-USD may be stretched relative to ETH-USD. On a flow basis, ETH-USD shows stronger capital accumulation (60 vs 58). BTC-USD carries lower short-term volatility (+53.2% vs +66.1% 21-day), with max drawdowns of -49.7% and -62.3% respectively. With a 63-day correlation of 0.93, these assets move closely together — limiting diversification benefit. Monitor the ratio trend and flow divergence for early signals of a shift in relative leadership.