Has the altcoin season not arrived yet? It mainly depends on whether ETH can hold this key level!
Altcoins haven't taken off yet, and the problem isn't with them—it's that Ethereum (ETH) isn't performing well enough.
For more than a month recently, the ETH/BTC ratio has been stuck around 0.024, showing no signs of breakthrough. This has historically been a typical position for 'market bottoms' (2019, 2020), but this time the market is clearly hesitant, and the rebound is delayed.
Key point:
Want to see if altcoins can launch a counterattack? First, keep an eye on ETH/BTC!
If Ethereum doesn't move, don't expect a large number of altcoins to fly solo.
The conclusion is clear:
For altcoins to reverse, ETH needs to step up and make a statement first; otherwise, we're just experiencing a 'grinding market', continuing to trade sideways and drag out time.
Do you think this wave of ETH will lead the charge? Or will the entire altcoin season be indefinitely postponed? Share your thoughts in the comments.
