On the technical front, the ETH/BTC ratio is showing both a cup and handle pattern and a bullish flag pattern. The cup and handle pattern indicates a potential breakout above the neckline at 0.02596 BTC, with a technical target close to 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 states that a breakout in ETH/BTC could trigger an altcoin season in 2025.

Data presented by analyst Sensei shows that the altcoin market capitalization relative to Bitcoin is retesting a long-term rising support trend line. Historically, each rebound from this level has indicated a massive surge in altcoins, one leading to a 9,000% increase and another resulting in an explosive 180,000% market cap growth.

Analyst Moustache also points out that altcoins are breaking out of a seven-year descending wedge, a pattern that appeared before significant rallies in 2017 and 2020, suggesting that a new round of altcoin season may be on the horizon.