Ethereum is trading at $1,650 as of Monday, recovering slightly from last week's decline, but the ETH/BTC ratio has slipped to roughly 0.026 — a level last seen during the COVID-19 market crash in 2020. The digital asset is holding above the $1,500 psychological support, though trading volume sits at $15 billion. Separately, Bitcoin Hyper ($HYPER), a Bitcoin Layer 2 solution that integrates the Solana Virtual Machine, has raised $32 million in its ongoing presale at a token price of $0.0136.
Ethereum's relative weakness
The ETH/BTC ratio dropping to 0.026 isn't just a number. It means ether is losing ground to bitcoin faster than at any point in the past six years outside the pandemic panic. Analysts watch this ratio to gauge market sentiment toward the two largest cryptocurrencies. A daily close below $1,500 could open the door to $1,200 support, while a close above $1,700 might push prices toward $1,800 and then $2,000. For now, ETH is stuck in the middle.
The ratio could retest or extend below 0.0265. That would put ether at its weakest relative to bitcoin since March 2020.
Bitcoin Hyper's $32 million presale
Bitcoin Hyper is building a Layer 2 on top of Bitcoin, but with a twist — it uses the Solana Virtual Machine (SVM) for execution. The project's presale has already pulled in $32 million at $0.0136 per token. That's a decent haul for a presale, especially in a market where many new projects struggle to get off the ground.
Bitcoin Hyper offers staking with a advertised 36% APY. It also includes a Decentralized Canonical Bridge meant to allow native BTC transfers onto its network. The pitch: combine Bitcoin's security with Solana's speed and throughput. Whether that actually works at scale is still an open question.
The next concrete steps
For Ethereum, the immediate question is whether bulls can push the daily close above $1,700. That level acted as resistance last week. If it breaks, the $1,800 target comes into play. Below $1,500, the next floor is $1,200.
Bitcoin Hyper's presale is still live at $0.0136. The team hasn't announced a hard cap or a presale end date yet, but $32 million already raised suggests strong early demand. The staking mechanism and bridge will need to deliver once the token goes live — presale hype only goes so far.
