Altcoins have fallen sharply, losing around 50% of their value against Ethereum since April, signaling a clear Ethereum-dominated market phase. Analysts point out that this is “$ETH
ETH season,” not “alt season,” as the ETH/$BTC
BTC pair continues to rise.
Historically, when ETH/BTC gains strength, most alt/BTC pairs also see upward momentum. However, alt/ETH pairs tend to underperform during these periods. Market watchers expect altcoins to continue bleeding against Ethereum for another one to two weeks before a potential relief bounce occurs.