Will Crypto Market Bounce Back Trigger Altcoin Season? | Coinspeaker
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Will Crypto Market Bounce Back Trigger Altcoin Season?

As Bitcoin reclaimed $100K, the growing weakness in Ethereum projects weakness among altcoins. Will this weakness delay the 2025 altcoin season or is a bounce back inevitable?

Vishal Dixit By Vishal Dixit Julia Sakovich Edited by Julia Sakovich Updated 3 mins read
Will Crypto Market Bounce Back Trigger Altcoin Season?
Photo: Vecteezy

Key Notes

  • The crypto market cap rebounded from $2.81 trillion to $3.16 trillion after a 7.58% drop.
  • Bitcoin repeatedly hit $100,000, while Ethereum formed consistent lower highs.
  • Double bottom patterns and RSI trends suggest an upcoming altcoin bull run.
  • ETH/BTC tests key Fibonacci support with oversold RSI hinting at a reversal.

Last week, the total crypto market cap dropped by 7.58% from $3.45 to a closing price of $3.19. Currently, the crypto market cap stands at $3.16 trillion, which marks a significant bounce back after dropping to $2.81 trillion at the start of this week.

While the overall tone remains bearish in the crypto market, some glittering hopes of a bullish reversal hint at a potential all-time season. However, facing a similar situation to the broader market, the total market cap of cryptocurrencies, excluding BTC BTC $96 948 24h volatility: 0.9% Market cap: $1.92 T Vol. 24h: $29.53 B and ETH ETH $2 705 24h volatility: 1.1% Market cap: $325.65 B Vol. 24h: $17.45 B , struggles at $883 billion. Will the altcoins regain bullish momentum as the crypto market and Bitcoin struggle for a bounce-back rally?

Bitcoin vs. Ethereum Price Divergence

Currently, Bitcoin and Ethereum are projecting diverse and opposing trends. Over the past few months, Bitcoin has hit the $100,000 mark nearly six times.

Surprisingly, with each Bitcoin peak nearing the $100,000 mark, Ethereum makes a lower high. The first time Bitcoin touched the $100,000 milestone, Ethereum stood at $4,000.

On the second touch, Ethereum dropped to $3.9K. On the third attempt, Ethereum further slid down to $3.7K. By the fourth time, Ethereum dropped to $3.4K.

At the fifth peak of Bitcoin at $100,000, Ethereum dropped to $3.3K. In the most recent peak of Bitcoin, hitting the $100,000 mark, Ethereum recorded a market price of $2.8K.

With the divergence in the Bitcoin and Ethereum prices, a potential weakness could be possible among Bitcoin and altcoins. In comparison on a weekly time frame, the ETH/BTC chart reveals growing weakness in Ethereum against Bitcoin.

This has resulted in a plunge from 0.03567 BTC to 0.03222 BTC. Currently, the ETH/BTC pair stands at 0.02748 BTC as it tests the 78.60% Fibonacci level.

While ETH remains a crucial support level, the oversold RSI also hints at a potential reversal.

Ted Pillows’ Bullish Outlook on Altcoin Season

Apart from the divergence between Bitcoin and Ethereum, Ted Pillows takes a bullish stance on the upcoming altcoin season. In his recent X post, Ted Pillows, a crypto analyst, highlights the frequent double-bottom reversals in the altcoin market.

From presenting his analysis on a monthly time frame, the crypto total market cap excluding Bitcoin has had three double-bottom reversals since 2015. Furthermore, the current double-bottom reversal shows a canonical similarity with the 2017 and 2021 bull markets.

Based on the RSI indicator, the altcoin season begins after a small reaccumulation phase. Currently, the RSI line has outgrown the reaccumulation part and is teasing a potential bull market in the altcoin segment.

As the overall crypto market shows signs of recovery, the divergence between Bitcoin and Ethereum highlights underlying market weaknesses. However, a bullish analysis from Ted Pillows suggests that altcoins could regain momentum, potentially leading to a new altcoin season if key support levels hold.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Bitcoin News, Cryptocurrency News, Ethereum News, News
Vishal Dixit
Author Vishal Dixit

Vishal, a Bachelor of Science graduate, began his journey in the crypto space during the 2021 bull run and has since navigated the subsequent market winter. With a strong technical background, he is dedicated to delivering insightful articles rich in technical details, empowering readers to make well-informed decisions.

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