The ETH/BTC pair shows a downtrend predicted to extend into 2025. Notably, the RSI remains below 30, suggesting a lack of bullish momentum despite prior oversold signals.

Recent breakdowns revealed losses of about 13%, 21%, and 25%. This reflects a bearish market structure where ETH fails to show signs of recovery against BTC.

Ethereum’s gas fees are significantly down, evidencing reduced network activity. In contrast, Bitcoin futures volumes are rebounding, highlighting waning demand for ETH.