Analysing The ETH\/BTC Pair<\/h2>\n
The last two weeks <\/span>were highlighted by a consolidation <\/span><\/a>of the Bitcoin price below the $99,000 price level as investors continued to await a break above $100,000. Amidst this Bitcoin price correction, the Ethereum price kickstarted a notable increase from the $3,340 level on November 26. This rally allowed Ethereum and many other altcoins to outperform Bitcoin, leading to speculation about whether the crypto market is now in the<\/span> initial phases of a long-awaited altcoin season.<\/span><\/a><\/p>\n

Related Reading<\/span><\/h2>\n<\/p>\n
According to technical analysis<\/span><\/a> from popular crypto analyst Benjamin Cowen, this might be the earliest recovery stage for the ETH\/BTC pair. Taking to social media platform X, Cowen remarked that the ETH\/BTC pair recently bottomed out at 0.03187, which aligns closely with his previously forecasted worst-case scenario of 0.03.<\/span><\/p>\n
Back in 2023, Cowen<\/span> had predicted a substantial decline<\/span><\/a> in the ETH\/BTC pair. Back then, the ETH\/BTC pair was trading around 0.066, but he predicted that it could drop by over 45% at that point. Interestingly, this prediction has materialized as Ethereum\u2019s valuation relative to Bitcoin has been on a decline since the last quarter of 2023 up until recent weeks.<\/span><\/p>\n
Fast forward to December 2024; Ethereum has rebounded and is performing well against Bitcoin. Particularly, the ETH\/BTC pair is currently around 0.0396, up 24% from a 2024 low of 0.03187. This resurgence prompted Cowen to re-examine the ETH\/BTC pair, and his outlook has turned positive.<\/span><\/p>\n
\u00a0<\/p>\n
$\"Ethereum$
Source: X<\/figcaption><\/figure>\n
Historical Trends Suggest A Seasonal Rebound<\/h2>\n
Cowen highlighted Ethereum\u2019s historical tendencies, noting that the ETH\/BTC pair often gains momentum in December or January. If this trend holds and the ETH\/BTC pair gains momentum in December, Ethereum may already be in the early stages of recovery. However, if it was to wait until January, a sweep of prior lows at 0.03187 and possibly 0.03 remains possible but increasingly unlikely. He added that within a few months, the exact bottom might become irrelevant.<\/span><\/p>\n
Related Reading<\/span><\/h2>\n<\/p>\n
Looking ahead, Cowen projected a 6-12 month horizon for significant gains in the ETH\/BTC pair. Such a move would be highlighted by the Ethereum price outperforming the Bitcoin price and a full altcoin season.<\/span><\/p>\n
At the time of writing, Ethereum is trading at $3,845. Bitcoin, on the other hand, <\/span>has finally broken above <\/span><\/a>the $100,000 mark and is currently trading at $103,000. The ETH\/BTC pair is currently trading at 0.03755.<\/span><\/p>\n
$\"Ethereum$
ETH bulls push for $4,000 | Source: ETHUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/p>\n<\/p><\/div>\n

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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"
Este art\u00edculo tambi\u00e9n est\u00e1 disponible en espa\u00f1ol. The Ethereum price has returned above the $3,800 price level on the back of a 5% increase in the past 24 hours. Interestingly, this Ethereum price increase has come amidst a simultaneous increase in the performance of ETH against BTC in recent weeks.\u00a0 According to crypto analyst Benjamin […]<\/p>\n","protected":false},"author":1,"featured_media":110616,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[399,36,10351,464,44,1171,3875,124,1128],"class_list":{"0":"post-110615","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ethereum","8":"tag-analyst","9":"tag-bitcoin","10":"tag-correctly","11":"tag-crash","12":"tag-ethereum","13":"tag-headed","14":"tag-predicted","15":"tag-price","16":"tag-reveals"},"_links":{"self":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/posts\/110615","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/comments?post=110615"}],"version-history":[{"count":0,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/posts\/110615\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/media\/110616"}],"wp:attachment":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/media?parent=110615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/categories?post=110615"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/tags?post=110615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}