why is eth struggling so hard while btc hits 80k?

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It’s getting harder to ignore how much eth is lagging while btc is out there making new highs above 80k. we usually expect eth to follow btc, but eth/btc ratio just keeps sliding and it feels like the liquidity is getting sucked out of eth into other narratives.

btc has clear position as digital gold, etf, treasury plays and institutions support its narratives. while eth needs people to care about crypto ecosystem.

butwhen i look back at technical side, current situation looks like a textbook controlled accumulation phase. Most people think it's done for the cycle because the rally has slowed down, but rsi is sitting around 58.67 and the macd histogram is basically flat. This usually appens right before a major momentum shift where the price finally picks a direction.

what’s interesting is that eth is holding steady about 7% above its 200-day sma, showing some institutional-grade discipline. Derivatives data shows top traders maintaiing a 54.2% long bias, while funding rates are staying completely flat at -0.0020%. it feels like smart money is just quietly building positions while everyone else is distracted by btc pump or chasing solana. With the daily atr around $67, voltility is definitely high enough to trade, it’s just staying contained for now.

since price has been chopping now, i’ve just been running a grid bot on BYDFi. it's good to capture small swings while waiting for a real breakout. historical patterns suggest ths kind of compression resolves bullishly more often than not once the range breaks.

do you think this is an accumulation phase for eth, or is the market narative too focused on btc this time?