Samson Mow, a well known Bitcoin entrepreneur and founder/CEO of JAN3, warned that current good points in Ether could possibly be quick lived as some traders transfer income again into Bitcoin.
According to his submit, 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 degree, those self same holders might promote, leaving a contemporary set of consumers holding the bag.
“No one wants ETH in the long run,” he wrote, and he known as the promoting strain close to large worth marks a “Bagholder’s Dilemma.”
ETH/BTC Moves Raise Questions
Based on stories, 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 worth; the token topped $4,310 in late buying and selling on Sunday and posted a weekly acquire of 21%.
Let me clarify what’s taking place with ETHBTC.
Most ETH holders have a variety of BTC (ICO/insiders) and they’re rotating that BTC into ETH to pump it on new narratives (Ethereum Treasury co’s).
Once they’ve gotten it excessive sufficient, they’ll dump their ETH, creating new generational…
— Samson Mow (@Excellion) August 10, 2025
Those numbers put Ether roughly 10% from its 2021 all-time excessive of $4,880. For proponents of Bitcoin, these shifts seem like a rotation again to altcoins that would reverse as soon as sellers take income.
Some market watchers learn the identical info in another way. They see the current ETH surge as a bullish signal and count on a extra complicated cycle: Ether may hit a contemporary peak and spark a mini altseason.
After that, capital might circulate 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 Cases And On-Chain Signals
Reports have disclosed that institutional curiosity and new methods are additionally a part of the story. Nick Ruck, director at LVRG Research, pointed to institutional demand and “strategy reserve plays” as drivers behind Ether’s climb to $4,300.
According to Ruk, larger curiosity has helped DeFi platforms carry complete worth locked. Staking, yield ways and burning of charges change provide dynamics in contrast with earlier cycles, and people components make immediately’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 supplies momentum merchants one thing to look at.
At the identical time, Bitcoin dominance has slid by about 10% since late June, exhibiting capital has already shifted into altcoins in current weeks.
Those two developments can coexist — robust ETH momentum plus a still-present danger that profit-taking will set off a reversal.
Featured picture from Unsplash, chart from TradingView
