Ether (ETH), the native cryptocurrency of the Ethereum network, remains above $2,000, which has revived expectations that an altseason could be about to start in the market.

As explained by CriptoNoticias, an altseason or altcoin season (digital assets that are not bitcoin) is a period in which these assets register significant growth in their price.

This period usually starts with a strong influx of capital into BTC, which drives its price to new highs. After the coin created by Satoshi Nakamoto takes off, investors seek higher returns and shift their holdings to ether, the leading altcoin by market capitalization.

As ETH gains momentum, enthusiasm in the market grows and broader speculative demand is activated, intensifying the bullish phase of the rest of the altcoins.

Now, are there concrete signs that ETH could be starting a bullish cycle that marks the beginning of an altseason?

According to data from CryptoQuant, an on-chain analysis firm, the native coin of Ethereum measured in BTC may have hit a bottom, a clear technical signal that, historically, has coincided with the start of a new favorable season for altcoins.$ETH