Specifically, the price of Ethereum is being tipped to take a step further in its recovery by outperforming Bitcoin (the world’s largest cryptocurrency by market capitalization) over the next few months. This overwhelming potential of the “king of altcoins” overtaking BTC begs the question: Is the altseason on the horizon?
Data provided by CryptoQuant shows that the ETH/BTC price ratio has experienced a 38% increase in the past week. This positive rally came after the ratio fell to its lowest since January 2020, marking a historical relative bottom for ETH and springboard for the altcoin season.
CryptoQuant also mentioned that Ethereum’s possible bottom again Bitcoin is further accentuated by the higher demand and reduced selling pressure for ETH compared to BTC. For instance, the relative ratio of ETH’s spot trading volume to Bitcoin jumped to 0.89 — its highest value since August 2024 — in the past week, showing the larger propensity of investors to buy ETH instead of Bitcoin.
Meanwhile, investors are also favoring Ethereum through exchange-traded funds (ETFs) purchases, with the ETF holdings ratio increasing sharply since late April. This growth spike suggests an increased purchase of ETH through ETFs relative to Bitcoin — influenced by growth catalysts such as recent network upgrades and improving macro environment.
As of this writing, the price of ETH sits just beneath $2,500, reflecting an over 3% decline in the past 24 hours.
