On March 28, 2025, Ethereum (ETH) hit a 4-year low against Bitcoin (BTC), with the ETH/BTC trading pair reaching a low of 0.033 BTC per ETH at 10:45 AM UTC, according to data from CoinMarketCap (CoinMarketCap, 2025). This significant drop marks a critical shift in the market dynamics between these two major cryptocurrencies. The last time Ethereum was at this level against Bitcoin was on March 12, 2021, when the pair traded at 0.032 BTC per ETH (CoinGecko, 2021). The immediate cause of this drop can be attributed to a surge in Bitcoin's price, which rose by 7.5% to $72,345 within the last 24 hours, as reported by CoinDesk (CoinDesk, 2025). Meanwhile, Ethereum's price remained relatively stable, increasing by only 1.2% to $2,390 over the same period (Coinbase, 2025). This disparity in price movement led to the significant decline in the ETH/BTC ratio.

The trading implications of this event are profound. The drop in the ETH/BTC pair suggests a shift in investor sentiment, with a clear preference for Bitcoin over Ethereum. This is evidenced by the trading volume on major exchanges, where Bitcoin's volume increased by 22% to 34,500 BTC on Binance, while Ethereum's volume saw a modest increase of 5% to 1.2 million ETH on the same platform (Binance, 2025). This shift in volume indicates a potential reallocation of capital from Ethereum to Bitcoin. Additionally, the ETH/BTC pair's drop has led to increased volatility in other trading pairs involving Ethereum, such as ETH/USDT, which saw a 3% increase in volatility over the past 24 hours (Kraken, 2025). Traders should be cautious of potential further declines in the ETH/BTC pair, as the current market sentiment favors Bitcoin.

Technical indicators further support the bearish outlook for the ETH/BTC pair. The Relative Strength Index (RSI) for ETH/BTC dropped to 35, indicating that the pair is approaching oversold territory (TradingView, 2025). The Moving Average Convergence Divergence (MACD) also shows a bearish crossover, with the MACD line crossing below the signal line on March 28, 2025, at 9:30 AM UTC (TradingView, 2025). On-chain metrics reveal a decrease in Ethereum's active addresses by 10% over the past week, while Bitcoin's active addresses increased by 5% during the same period (Glassnode, 2025). This suggests a decline in Ethereum's network activity relative to Bitcoin. The trading volume for the ETH/BTC pair on decentralized exchanges (DEXs) also saw a 15% decrease over the past 24 hours, indicating reduced interest in trading Ethereum against Bitcoin on these platforms (Uniswap, 2025).

In terms of AI-related news, there have been no significant developments directly impacting AI tokens on this date. However, the broader market sentiment influenced by the ETH/BTC drop could indirectly affect AI-related tokens. For instance, tokens like SingularityNET (AGIX) and Fetch.AI (FET) saw a slight decline of 2% and 1.5% respectively against USD, likely due to the overall market sentiment shift towards Bitcoin (CoinGecko, 2025). The correlation between these AI tokens and major cryptocurrencies like Bitcoin and Ethereum remains strong, with a 24-hour correlation coefficient of 0.75 for AGIX/BTC and 0.72 for FET/BTC (CryptoQuant, 2025). Traders should monitor these correlations closely, as any further shifts in the ETH/BTC pair could lead to increased volatility in AI token prices. Additionally, AI-driven trading volumes for these tokens have remained stable, with no significant changes reported over the past 24 hours (Coinbase, 2025).