According to CoinMeta, as reported by an early issuer of in, the ETH / BTC ratio formed a golden cross where the 50-day moving average broke above the 200-day moving average, representing an increase of about 25% from the low point on June 6th. This ratio rose by approximately 36% within four weeks after the golden cross on July 25, 2025, before then declining. It had risen by around 93% after the golden cross in February 2021, however, the upward trend was not continued in the golden crosses in May and August 2022. The golden cross is considered a lagging indicator based on historical prices.