PANews reported on May 31 that ETH/BTC is forming multiple bullish technical patterns, and analysts believe this may trigger a new round of 'altcoin season' in 2025. Technically, the ETH/BTC ratio is displaying both cup and handle and bullish flag patterns. The cup and handle pattern indicates a potential breakout at the 0.02596 BTC neckline, with a technical target approaching 0.03814 BTC, suggesting a possible increase of 55% by July. Meanwhile, the bullish flag pattern suggests a potential breakout to 0.03235 BTC, approximately 30% higher than the current level. Analyst Trader Tardigrade stated that a breakout in ETH/BTC could trigger the altcoin season in 2025.
Data presented by analyst Sensei shows that the altcoin market cap relative to Bitcoin is retesting a long-term rising support trendline. Historically, every rebound from this level has indicated a large-scale rise in altcoins, one of which led to a 9,000% increase, while another triggered a 180,000% market cap explosion. Analyst Moustache noted that altcoins are breaking out of a seven-year descending wedge, a pattern that appeared before major increases in 2017 and 2020, suggesting that a new altcoin season may be imminent.
