Bitcoin (BTC) and Ethereum (ETH) have staged significant recoveries but remain substantially below their historic price peaks. As of January 14, 2026, Bitcoin is trading 24.7% below its all-time high (ATH) of approximately $69,000, set in November 2021. Ethereum's lag is more pronounced, sitting 33.5% below its ATH of around $4,878, also achieved in late 2021. Current prices place BTC below $52,000 and ETH below $3,250, indicating that while market sentiment has improved, a full recovery is not yet complete.
Analytics firm Santiment suggests Ethereum's current weak social sentiment could be a precursor to a major price run. Brian Quinlivan of Santiment notes that the current negative sentiment mirrors levels seen before Ethereum's dramatic rally in 2025, when its price surged from $1,470 to $4,900. He interprets the dip in sentiment not as a sign of prolonged downturn, but as a potential setup for a reversal, similar to the conditions that preceded the August 2025 surge to a new ATH.
Ethereum's market position remains robust despite a 36% drop from its peak. The decline followed a massive $19 billion liquidation event across crypto markets in October 2025. However, Quinlivan believes Ethereum has "firmly cemented its place as an expected number two" in the market, a view echoed by Anthony Bassili, president of Coinbase Asset Management, who ranks ETH as a key asset second only to Bitcoin. Growing interest in Ethereum's staking process is cited as a positive indicator for network growth, potentially counterbalancing the broader market's "Fear" sentiment.
The road to new highs may require further catalysts. Analysts point out that full recovery for both assets could depend on external drivers such as ETF approvals, macroeconomic shifts, or major adoption news. The gap from ATHs serves as a reminder that bull markets often come in waves, and patience may be required before the market sees new historic peaks.
