- The outperformance of Ethereum Q2 came from a single month, while Bitcoin showed regular force.
- Is ETH’s momentum just a short-term rotation or a deeper sign of fragility?
Ethereum (ETH) closes the T2 with a good gain of 37.04%, surpassing Bitcoin (BTC) 31.08% and again putting its historic tendency to exceed the BTC during the risk phases.
On the surface, it is a strong signal of the cyclic lever effect of ETH. But a more in -depth examination of the monthly structure tells a different story. In the middle of 2025, ETH recorded only one green month, driven by a single explosive movement + 40%.
This makes the lowest H1 performance in Ethereum since its creation. On the other hand, BTC recorded four green monthly closures, stressing its structural resilience and its low volatility profile.
Source: Coringlass
So what really happens under the hood? Ethereum’s gain + 37.04% Q2 came almost entirely by a month, highlighting a clear and reactive decision rather than a sustained increase trend.
BTC, on the other hand, shows the grinding force.
Four months of regular green fences indicate a coherent punctual request and controlled volatility, particularly impressive since the macro opposites were always pressure on risk assets.
For beneficiaries, this divergence is important.
Ethereum is negotiated as an asset of rotation, explosive, but incoherent. But BTC offers reliability. So, at the beginning of H2, the configuration forces a tactical question: do you hunt the beta version or do you position it around resilience?
Ethereum Movages of the Genesis era: rotation signal or profit probe?
Lookonchain pointed out a participant by sleeping Ethereum ICO moving only 1 ETH with a treasure of 1,000 ETH, intact from Genesis.
At current prices, the 999 ETH in the portfolio has a notional value of $ 2.20 million, with an entry cost of only $ 310, marking an astounding return on investment.
Compare this now with Bitcoin. An allocation of $ 310 to the early Bitcoin price range from 0.10 to 0.30 $ would have reported 1,000 to 3,000 BTC. At the price of today $ 107,000, it is $ 107 million to $ 321 million, a yield that even eclipses the genesis of ETH.
However, the technical divergence is deeper.
Source: Glassnode
The years of currency of Ethereum destroyed (CYD) increase, reflecting a renewed activity of the carriers of dormants. For the context, these are generally output or rotation flows, not an accumulation.
Meanwhile, Bitcoin Cyd is decreasing. Old BTC does not move. Even with prices exceeding $ 100,000, long -term holders remain on site, highlighting a clear demonstration of conviction.
Superpose this with the return profile of the decade, and the contrast is clear: Bitcoin commands a higher long horizon belief, while the capital base of Ethereum is more reactive to risk cycles.
In this context, if the ETH rotation force continues to rely on episodic volatility, while BTC is on coherent demand, even strong districts like Q2 could start to appear fragile, because the rotation of capital in the BTC becomes structurally more frequent.
