The signs are subtle but ETH is actually outperforming Bitcoin on this major bounce.

Is it because ETHBTC is at multi-year lows?

And how are alts reacting today?

Quick look

It's quite crazy to see how strong the crypto market is bouncing today.

Especially since most didn't expect it.

Although from a technical perspective on Bitcoin we saw it coming.

But Ethereum has been the real lagger this cycle. But today it's showing promise.

ETH has at its multi year low level against Bitcoin.

And while it's still subtle, it's actually bouncing from here.

Are we bouncing because we reached this level or just because a bounce was heavily overdue here?

Probably both.

We all know the effect it has when Ethereum even sneezes both down or up.

When it moves up even 10%, it takes the entire market with it and we are seeing the effects of that.

Objectively speaking. The global altcoin chart is showing promise for a while!

The main question everyone has on their minds right now is:

Is this a bear market rally or bull market one?

The retest before another leg down or the next leg up?

Truth be told, if Bitcoin and the rest of the market can make a higher low in the near future things will be looking quite good.

This move will be unsustainable and eventually will retrace a bit. But if it's just a retrace but holds structure?

It's another leg-up imo!

The road will likely not be an easy up-only one. Still lots of uncertainty and macro conditions that plague all the global markets right now.

Reaching a conclusion on all the tariff situations will play key in this including future rate cuts and so on.

But the markets were always bound to have some sort of relief sooner or later.

I always tell this to many people:

"The markets are never truly over or done. It's just postponed"

Won't be easy mode just yet. But relief will happen.

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It always takes me a couple of hours writing down my thoughts and gathering the relevant data / charts together.

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