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Has ETH/BTC Bottomed and Who Leads From Here?

Has ETH/BTC Bottomed and Who Leads From Here?

PODCAST

John Gillen

JUL 22, 2026

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In today's episode, we sit down with CryptoQuant Head of Research Julio Moreno to analyze whether Ethereum has finally bottomed against Bitcoin - or if it is simply cheap. Julio breaks down five key metrics to determine where the market stands in its valuation cycle. He explains why speculative interest in ETH has been fully washed out, what improving ETF demand signals for an upcoming shift in relative strength, and why current Bitcoin price action reflects a seasonal bear market rally before late-stage capitulation settles.

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