Well, well, well! Ethereum‘s value against Bitcoin has taken a nosedive, hitting its lowest level since mid-2020! It’s like watching a bad sitcom where the punchline is always the same: “Time to shift into those high-flying altcoins!” 🎭
“If you’re still stuck on ETH, it’s time to dump it faster than a hot potato and grab a higher beta altcoin!” said economist and crypto trader Alex Kruger in a March 12 X post. I mean, who wouldn’t want to trade a sad sack for a shiny new toy? 🥔➡️🚀
ETH/BTC Ratio: The Altcoin Season Indicator! 🎉
“If the market goes down, you’ll likely lose equally in both cases, but if it goes up, you’ll likely outperform significantly and can then swap into BTC,” Kruger mused. It’s like saying, “If you’re going to fall, at least do it with style!” 🤹♂️
The ETH/BTC ratio — which shows Ether’s relative strength compared to Bitcoin — is sitting at a dismal 0.02281, its lowest level in nearly five years! Talk about a dramatic fall from grace! 📉
Both leading cryptocurrencies are trading below key psychological price levels. Bitcoin is at $83,667 — still sulking below the $100,000 mark since Feb. 5 — while Ether (ETH) is at $1,907, floating like a lost balloon below $2,000 since March 10. 🎈
Meanwhile, the Crypto Fear & Greed Index, which measures overall market sentiment, read a “Fear” score of 45, up 11 points from yesterday’s score. Fear? More like a horror movie! 🎃
Many in the crypto industry see the ETH/BTC ratio “bottoming out” as a sign that altcoin season could kick off. On Feb. 14, Into The Cryptoverse founder Benjamin Cowen said on X, “For an altcoin season, ETH/BTC needs to bottom and start trending higher.” Sounds like a plan, right? 🤔
Bitcoin Season: The Dominator! 💪
However, other indicators suggest that altcoin season may not come so soon, and Bitcoin (BTC) may continue to hold market share in the near term. It’s like waiting for a bus that never arrives! 🚌
CoinMarketCap’s Altcoin Season Index — which bases the performance of the top 100 altcoins relative to Bitcoin over the past 90 days — reads a score of 13 out of 100, leaning more toward Bitcoin season. Ouch! That’s gotta hurt! 😬
Pseudonymous crypto trader and Pear Protocol adviser Hansolar said in a March 13 X post that it will be Bitcoin season “all year round.” Sounds like a never-ending party! 🎉
The trader noted that altcoin season was only 16 days last year and happened when Bitcoin’s Dominance dropped from 61% on Nov. 20 to 55% on Dec. 5 before rebounding to 59% by Dec. 21. Talk about a rollercoaster ride! 🎢
At the time of publication, Bitcoin dominance stands at 62.15%, according to TradingView. When Ether hit its all-time high of $4,800 in November 2021, Bitcoin’s dominance was approximately 42%. What a twist! 🎭
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2025-03-13 07:08