EL7.AI
CryptoUpdated×2•Originally published 18 July 2026•Updated 18 July 2026•
1 min read

Ethereum Slides 65% Against Bitcoin Since the Merge

Key Facts

1Ethereum has experienced a 65% decline against Bitcoin since the completion of the Merge.
2Critics attribute the slide to post-Merge execution failures, weak strategy, and failure to meet market demands.

Amid a shifting landscape for digital assets, Ethereum has experienced a significant 65% decline against Bitcoin since the completion of the Merge. Analysts attribute this slide to post-Merge execution failures and a weak strategic roadmap that failed to meet evolving market demands. According to reports, this underperformance highlights a period of structural weakness for Ethereum relative to the market leader, Bitcoin.

This deterioration in the ETH/BTC pair occurs as Bitcoin strengthens its position as the preferred institutional asset, bolstered by the launch of spot ETFs in early 2024 which attracted billions in inflows per market data. In contrast, competitors like Solana have seen surging on-chain activity, intensifying the competitive pressure on Ethereum's smart-contract dominance.

With upcoming catalysts including speeches from Fed officials Bowman and Waller in July 2026, global liquidity trends will be pivotal in determining the trajectory for high-beta crypto assets in the near term.

Latest Updates · 1

  1. Notable·

    Update: Fundamental pressures on Ethereum have intensified as reports indicate a significant drop in the token burn rate, threatening the 'Ultrasound Money' narrative. This shift toward a more inflationary supply mechanic undermines the economic incentives investors relied on to offset the asset's underperformance against Bitcoin.