The ETH/BTC ratio has climbed to a 10-week high, indicating a strengthening of Ether (ETH) against Bitcoin (BTC). This upward trend is attributed to favorable regulatory clarity from the U.S. Securities and Exchange Commission (SEC) regarding decentralized finance (DeFi), which has been well-received by the crypto community. On April 13, Bitmine added 71,524 ETH to its treasury, raising its total holdings to 4.87 million ETH, over 4% of the circulating supply. The ETH/BTC pair has also broken through a descending trendline resistance that had persisted since August 2025, closing above the 50-day and 100-day exponential moving averages at 0.0310, which are now acting as dynamic support. XWIN Research highlighted that an increase in active addresses reflects renewed network usage and a recovery in U.S. demand, often associated with institutional flows. However, there is a notable divide in ETH futures positioning, with global open interest reaching $16.37 billion on April 14, significantly above its 14-day average. While funding rates remain negative, indicating short positions, Binance has seen a 10.47% daily increase in open interest, suggesting a potential shift towards long positions. This creates an environment ripe for volatility as the market adjusts to these dynamics.