Peter Smith
⬤ ETH/BTC bounced off major long-term support dating back to 2018 but hit a wall before breaking through key resistance—basically proving altcoin season is still on vacation. The pair found its footing at levels we haven't seen since the 2018 bear market, which triggered a decent bounce, but the momentum fizzled out before anything meaningful could happen.
⬤ The weekly chart tells the whole story: ETH/BTC has been bleeding against Bitcoin for years before finally stabilizing near historic support in 2025. It tried clawing back some ground but got smacked down at that resistance zone that's been playing gatekeeper during every previous rally attempt. Sellers backed off, sure, but buyers clearly aren't strong enough yet to flip the script on Ethereum's underperformance.
⬤ This failed breakout matters way beyond just ETH. When ETH/BTC is climbing, altcoins usually party alongside it. Right now? Bitcoin's sucking up all the money while everything else gets breadcrumbs. Smart money is sticking with what's working—BTC's strength and liquidity—while the broader altcoin market stays stuck in selective mode rather than full rotation.
⬤ Here's why this setup matters: traders watch ETH/BTC like hawks because it shows whether risk appetite is expanding beyond Bitcoin. If it reclaims and holds above that resistance, altcoins finally get the green light for a proper run. Until then, Bitcoin stays king, and any altcoin pumps will be random and driven by their own catalysts rather than a market-wide rotation everyone's waiting for.
Peter Smith
