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Ethereum Glamsterdam network upgrade illustrated graphic
Photo: AMBCrypto

Ethereum Gains 33% in Past Month, Outpacing Bitcoin on Glamsterdam Bets

Yahoo Finance2 min read6 sources

Why is Ethereum outperforming Bitcoin in September 2026?

Ethereum (ETH) has outperformed Bitcoin (BTC) in September, falling just 0.9% to $2,445 as of Friday while BTC dropped 2.5% to $76,579, as traders rotate ahead of the Glamsterdam network upgrade.

Key numbers

ETH price (Sep 18)$2,445-0.9% September MTD
BTC price (Sep 18)$76,579-2.5% September MTD
ETH August 2026 gain+32.6%+7.5pp above BTC's +25.1% — ETH's best relative month in 2026 [5]
ETH/BTC ratio Sep 11 cycle high0.0334Matched Aug 19 peak; double top signals key resistance (per market data) [1]
CLARITY Act Senate vote (Sep 15)49-50 againstFailed — 11 votes short of 60 needed to advance to a full vote [2]

What happened

Ethereum (ETH) has outperformed Bitcoin (BTC) in September, falling just 0.9% to $2,445 as of Friday while BTC dropped 2.5% to $76,579, as traders rotate ahead of the Glamsterdam network upgrade. August saw ETH surge 32.6% versus Bitcoin's 25.1% — Ethereum's strongest relative monthly gain in 2026. The gap widened further in early September, with the ETH/BTC ratio touching a cycle high of 0.0334 around September 11. The CLARITY Act then failed a 49-50 Senate procedural vote on September 15, triggering a 4.6% drop in ETH and a 3.3% drop in BTC the following morning.

Why it matters

Ethereum's relative strength matters because Bitcoin had beaten ETH nearly every month of 2026, so this is the first sustained period of reversal. The Glamsterdam upgrade — which would cut the cost of a basic ETH transfer by up to 71% and sharply raise how many transactions the network can process — gives traders a concrete near-term reason to hold ETH specifically, separate from the wider market. The CLARITY Act's defeat leaves US crypto regulation in limbo, keeping pressure on both assets, but ETH's outperformance suggests the upgrade catalyst is strong enough to attract capital even in an uncertain environment.

Who this affects

Marketmixed
Medium impact
Rotation from BTC to ETH lifts altcoin sentiment broadly.
Companybullish
Medium impact
Rising ETH price benefits Ethereum validators and ecosystem developers.
Competitorsbearish
Low impact
Bitcoin lags Ethereum on a relative basis this September.
Industrybearish
Medium impact
CLARITY Act failure leaves US crypto regulation uncertain into 2027.

Ethereum vs Bitcoin, Solana, XRP

EthereumETH$294B-0.9%-44%+33%
BitcoinBTC$1.54T-2.5%-29%+25%
SolanaSOL$59B———
XRPXRP$82B———

As of 2026-09-18

How we got here

  1. Ethereum Foundation confirms Glamsterdam upgrade targeting Q3 2026

  2. August rally begins; ETH at $1,864 and BTC at $62,906 — ETH outperformance starts

  3. ETH/BTC ratio hits 0.0334 cycle high, matching the August 19 peak

  4. CLARITY Act fails 49-50 Senate vote; ETH drops 4.6% the next morning

  5. ETH at $2,445, still leading BTC month-to-date; Sepolia fork targeted Oct 6

What to watch

  • Glamsterdam Sepolia testnet fork on Oct 6 — first public test before mainnet2026-10-06
  • CLARITY Act reintroduction prospects after Congress returns from Oct 5 recessQ1 2027
  • ETH/BTC ratio at double-top 0.0334 — break higher confirms rotation; failure reverses itQ4 2026

Educational content only. Not investment advice.

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