As market sentiment cools around Bitcoin, a new rotation narrative is quietly emerging in the crypto space: the shift from BTC to ETH. Technical analysts and veteran traders are now closely watching the ETH/BTC pair, which is showing signs of a potential reversal after months of underperformance. Could this be the beginning of a new altseason led by Ethereum?
ETH/BTC: Oversold Conditions Fuel Recovery Hopes
A chart shared by popular analyst Crypto Fella highlights the oversold zone on the ETH/BTC pair, suggesting the ratio may have bottomed out after a multi-year downtrend.
This level previously triggered major Ethereum rallies against Bitcoin in past cycles. The weekly chart shows a possible double bottom formation near 0.023 BTC, a structure often associated with macro reversals.
Source: Tradingview
While ETH has been lagging in 2025, the relative strength against BTC is beginning to show — especially as Bitcoin struggles to gain momentum despite over $2 billion in ETF inflows since June 10.
Market Sentiment: Rotation Without Euphoria
What’s interesting about this trend is the lack of hype. There’s no explosive rally or viral token moment — just a slow grind as capital reallocates from Bitcoin into Ethereum. In previous cycles, such quiet rotations often preceded broader altcoin expansions.
While the macro environment remains cautious, and regulatory uncertainty continues to weigh on crypto markets, this ETH/BTC rotation may be the first signal of renewed interest beyond Bitcoin dominance.
Final Thoughts: Will ETH Lead the Next Crypto Wave?
It’s too early to declare a full altcoin season, but the signs are there. As institutional capital becomes more sophisticated and retail exits the meme-driven phase, Ethereum could regain its role as the market’s bellwether for innovation. For savvy investors, watching the ETH/BTC ratio may provide one of the clearest signals of where the next wave of momentum could begin.
