Three months later, Bitcoin surges to $100,000 again, while Ethereum shows even stronger performance in the past 24 hours. The ETH/BTC exchange rate has now risen above 0.021, and many investors are sensing the arrival of altcoin season.
(Background: Breaking News: Bitcoin breaks through the $100,000 mark! Trump lashes out at the Fed ### “no rate cuts”)
(Context: Arthur Hayes predicts: Bitcoin to reach $150,000 by the end of the month! Aiming for $1 million by 2028, with the U.S. Treasury leading global liquidity)
Last night, Trump announced a trade tariff agreement with the UK, and with the upcoming U.S.-China talks set to begin in Switzerland, investor sentiment has been encouraged. All four major U.S. stock indices rose on the 8th, and Bitcoin has once again crossed the $100,000 mark after a three-month hiatus.
Ethereum Strongly Rebounds Above $2,200
It is noteworthy that during this rebound, Ethereum (ETH), which has just completed the Pectra upgrade, surged more than 20% in the past 24 hours, reaching a high of $2,244 at the time of writing, making it the best-performing token among the top ten.
Is Altcoin Season Coming?
At the same time, data from Trading View indicates that the ETH/BTC exchange rate has also risen above 0.021, increasing by 14% in the past 24 hours. Historically, when the exchange rate of Ethereum to Bitcoin (ETH/BTC) rises, funds often flow from Bitcoin to other cryptocurrencies, driving an overall market uptrend. Analyst Michaël van de Poppe also pointed out that the current total market capitalization of the altcoin market (ALTCAP) is stabilizing at a critical support level and may be poised for a breakout.
He believes that the potential approval of altcoin ETFs (such as Litecoin, Solana, and Ripple) in 2025 will further inject capital into the altcoin market.
However, despite Ethereum’s strong performance, Bitcoin’s market dominance currently exceeds 60%, reported at 64.7%, reaching the highest level since 2021. This indicates that market funds are still primarily concentrated in Bitcoin, and if it does not decline, it may limit the performance space for altcoins.
Analyst Benjamin Cowen predicts that Bitcoin’s dominance may need to fall below 54% to trigger a significant rotation of funds into altcoins.
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