President-Elect Donald Trump’s incoming administration is expected to favor the cryptocurrency industry, which contributed substantial financial support to several high-profile candidates during this November’s elections, including Trump.

Bitcoin’s price has skyrocketed in the weeks after the 2024 presidential election. It is currently trading above $97,000 and is fast closing in on $100,000. Analysts attribute this rise to a belief that Trump’s administration will adopt a more favorable stance toward cryptocurrencies compared to President Joe Biden. Trump has pledged to make the U.S. "the crypto capital of the world," reigniting investor enthusiasm around bitcoin and other digital assets.

This political shift coincides with changes looming in the crypto regulatory landscape. Gary Gensler, the current chair of the U.S. Securities and Exchange Commission (SEC), has garnered heavy industry criticism for his stringent regulatory approach. Following Trump's victory, Gensler announced his resignation, which is expected to lead to a more lenient regulatory environment that benefits the cryptocurrency market. With these imminent changes in both political leadership and regulatory oversight, industry experts are optimistic about bitcoin ascending to new heights, including reaching $100,000 in a matter of weeks.

Meanwhile, the crypto market has also undergone major fluctuations, particularly with the ETH/BTC price ratio, which tracks the relative value of ethereum to bitcoin. On Thursday, bitcoin’s ETH-to-BTC price ratio plummeted to 0.032, representing a three-year low. In a recent interview with TheStreet Crypto, Georgy Slavin-Rudakov, Chief Marketing Officer at B2BINPAY, noted that the ETH/BTC ratio decline had reached its lowest level since March 2021, which he attributed to "bitcoin's dominance, driven by the increasing trading volume of spot bitcoin ETFs [exchange-traded funds]."

Slavin-Rudakov highlighted that ethereum is competing both as a smart contract platform against Solana, a rival cryptocurrency, and as a store of value against bitcoin. Large investors are currently shifting their funds from ethereum to bitcoin, indicating a preference for bitcoin at this moment, he pointed out.

Looking ahead, Slavin-Rudakov underscored that ethereum has been trending upward, after being mostly stable for the past three months. "Its upward momentum appears steady, with potential targets between $3,600 and $4,000," he told TheStreet Crypto.

"This rise aligns with ethereum’s need to tap into significant liquidity at higher levels, suggesting room for further growth, especially if bitcoin's rally slows. If bitcoin continues growing, ethereum may rise at a slower pace, keeping the ratio suppressed. Conversely, if bitcoin corrects, ethereum could outperform, offering a rebound in the ratio," he added.