Bitcoin vs Ethereum: Which Gets Back to Its All-Time High First?
Bitcoin and Ethereum are both racing to reclaim their all-time highs, but the gap each coin must close tells very different stories about which one gets there first.
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As of September 27, 2026, Bitcoin (CRYPTO: BTC) is trading at around $84,900, roughly 33% below its all-time high of $126,080 set in October 2025. To reclaim that record, it needs to climb about 49%. Meanwhile, Ethereum (CRYPTO:ETH) is priced near $2,710, about 45% below its peak of $4,950 in August 2025. To reach its previous high, Ethereum needs to gain about 83%. In the battle between Bitcoin and Ethereum, Bitcoin appears to be closer to the finish line.
However, Ethereum has outperformed Bitcoin recently. Over the last 90 days, Ethereum has surged around 72% compared to Bitcoin’s 42% gain. This raises the question: can Ethereum’s rapid rise offset the larger distance it needs to cover?
Bitcoin Needs a 49% Climb to Retake Its $126,080 Record
Bitcoin is currently about 33% from its record high, a smaller decline than many previous bear markets. It’s down about 23% from a year ago but has dropped only about 4% in 2026, indicating a strong recovery this year.
In the past two months, Bitcoin has gained around 32% in value and 42% over the last three months, crossing the $85,000 mark in September for the first time since January. Nonetheless, to reach a 49% increase from $84,900, it will need significant new buying activity.
Ethereum Needs an 83% Gain to Get Back to $4,950
Ethereum’s situation is more challenging. It is trading about 45% below its all-time high and has dropped about 33% over the past year and 9% in 2026.
Despite this, Ethereum has recovered faster, jumping about 72% over the past three months from roughly $1,570 in late June. It has also risen about 42% in the last 60 days, surpassing Bitcoin during this period.
One reason for this speed is the coin’s size. Ethereum’s market cap is about $331 billion, while Bitcoin’s is around $1.7 trillion. This means that the same amount of buying power can push Ethereum’s price higher more easily. However, it also means that when selling begins, Ethereum tends to decline more sharply.
At Their 90-Day Pace, Bitcoin and Ethereum Are Almost Even
Looking at their recent performance, Bitcoin and Ethereum seem neck and neck. If Bitcoin continues at its 90-day pace, it could reach $126,080 in about 100 days. Meanwhile, if Ethereum maintains its faster momentum, it could hit $4,950 in a similar timeframe.
The outcome of this race hinges on maintaining current speeds. Rallies of 72% in a short period are rare, and if Ethereum slows, it will face a tougher climb, needing to cover the larger 83% distance.
Bitcoin also benefits from a strong demand narrative. Macro investor Jordi Visser has called Bitcoin “the purest AI trade,” which could keep major investors focused on the leading coin. Furthermore, Bitcoin has weathered the crypto winter following the 2025 peak better than Ethereum, leaving it less distance to recover.
Bitcoin vs. Ethereum: Which Reaches Its All-Time High First?
Considering the current situation, Bitcoin seems more likely to hit its all-time high first. With a required gain of 49% compared to Ethereum’s 83%, and both coins nearly even in recent growth, any slowdown in Ethereum’s rally could hand the advantage to Bitcoin.
Of course, Ethereum could still take the lead if it maintains its rapid pace while Bitcoin struggles to break $100,000. However, if Ethereum’s growth falters, it may fall short of $4,950 by the time Bitcoin reaches $126,080, leaving those who chased Ethereum’s surge facing significant volatility before it gets there.
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Sam Daodu is a crypto analyst who's spent nearly a decade making blockchain understandable—no easy task when most whitepapers read like fever dreams. He writes for 24/7 Wall St., covering Bitcoin, altcoins, and crypto market analysis for investors. Before crypto, he was a tech writer (back when explaining "the cloud" was peak innovation). Since 2018, he's written for CoinTelegraph, Yahoo Finance, The Block, Cryptonews, Zypto, Rain, and more—basically anywhere people want crypto news without the headache. Sam runs MacLabs Marketing, a content agency for crypto brands tired of sounding like AI wrote their website. He also publishes free crypto education on his site for Web3 enthusiasts who think "gas fees" is a typo. When he's not writing or staring at charts, Sam's either: - Watching anime (currently convinced One Piece has better tokenomics than most altcoins) - At the gym sculpting himself into a Greek god - Listening to the music your mum warned you only bad boys listen to Connect: LinkedIn | Email | MacLabs Marketing
