Alex Thorne, head of research at Galaxy, is drawing attention to Ethereum/Bitcoin signals that have gone unnoticed by the market, perhaps due to the optimism surrounding cryptocurrencies starting in 2026.
Thorne emphasized the cross of death Ethereum/BTC He added that on the daily chart, this was hardly noticed.
Digital assets ended 2025 on a down note, but this year has gotten off to a seemingly good start. Ethereum itself rose above $3,000 and Bitcoin rose to nearly $98,000. Several altcoins also saw significant gains.
However, this situation has reversed, and at the time of writing, several cryptocurrencies are trading in the red, and some altcoins are suffering significant weekly losses.
Ethereum/BTC Death Cross completed
Alex Thorne, Head of Research at Galaxy, said: Ethereum/BTC The death cross in early 2026 went unnoticed.
This went largely unnoticed, but ETHBTC started the year with a death cross pic.twitter.com/p6jNJzcgPF
— Alex Thorne (@intangiblecoins) January 20, 2026
In the chart Thorne shared, Ethereum/BTC The daily chart has completed a death cross below the 200-day moving average.
This signal has implications for the altcoin market as it is interpreted as a bearish signal and could lead to a long-term underperformance of Ethereum and other altcoins compared to Bitcoin.
Altcoin outperformance often coincides with price increases. Ethereum/BTC ratio. This is because traders are willing to take more risk if Ethereum outperforms Bitcoin or vice versa.
Ethereum price action
Despite the ongoing market decline intensifying, Ethereum has recorded a higher loss rate than Bitcoin over the past 24 hours.
At press time, Ethereum It fell 6.46% to $3,104 in the past 24 hours, while Bitcoin fell 3.12% to $89,991 in this time frame.
From this perspective, Ethereum outperformed Bitcoin in 24-hour clearing on Tuesday, even though the total clearing in the crypto market reached $573 million. Of this amount, Ethereum accounted for $240 million, surpassing Bitcoin, which recorded $180 million in 24-hour settlements.
