Samson Mow, a well-known Bitcoin entrepreneur and founder/CEO of Jan3, warned that recent ether profits could be short-lived as some investors return their profits to Bitcoin.
According to his post, many ETH buyers already hold Bitcoin (often from ICO or insider positions) and have spinned that BTC into ETH to raise prices.
Related readings
He claims that once the ether reaches a high enough level, those same owners may sell, leaving a set of fresh buyers holding the bags.
“No one wants ETH in the long run,” he wrote, and he called the sales pressure near Big Price a “bag holder dilemma.”
ETH/BTC movement raises doubts
Based on the report, the ETH/BTC ratio jumped to about 0.036 in TradingView from a low of 0.018 for 5.5 years in April.
That rise came while ether was surged in prices. The tokens recorded a profit of 21% each week, with a late Sunday trading exceeding $4,310.
Let me explain what’s going on with ETHBTC.
Most ETH holders have many BTCs (ICOs/Insiders) that spin that BTC into the ETH and pump it up in a new story (Ethereum Treasury Co).
Once they’re high enough, they’ll abandon their ETH and create a new generation…
– Samson Mow (@excellion) August 10, 2025
These numbers ethered about 10% from the 2021 record high of $4,880. For Bitcoin supporters, these shifts look like a spin-off into an altcoin that can be reversed when the seller makes a profit.
Some market watchers read the same fact differently. They view recent ETH surges as a sign of bullishness and expect more complicated cycles. Ether can hit fresh peaks and stimulate the mini-alto season.
Capital then spins back into ether and other Altcoins before returning to Bitcoin until BTC reaches around $140,000.
Flows, Use Cases, and On-Chain Signals
Reports reveal that institutional interests and new strategies are also part of the story. LVRG Research Director Nick Ruck has pointed to the rise driver of Ether at $4,300, pointing to institutional demand and “strategic reserve play.”
According to Ruk, higher interest helped the Defi platform lift the locked total value. Staking, harvesting tactics and fee burning alter the supply dynamics compared to previous cycles. These factors make today’s rally different from the ICO era’s revolving mow described.
Related readings
The technical signal adds another layer. Ether weekly candles have been closed to levels not seen since November 2021.
At the same time, Bitcoin’s domination has been sliding about 10% since late June, indicating that capital has already shifted to Altcoins in recent weeks.
These two trends are strong ETH momentum and the still-existing risk of profits being reversed.
Unsplash featured images, TradingView charts
