Ethereum’s Struggle vs. Bitcoin: Why Altseason May Be Delayed

In a recent post, Sherpa notes that Bitcoin dominance ($BTC.D) needs to fall for altcoins to rally, but that won’t happen unless ETH/BTC reverses its prolonged downtrend—something that currently appears “extremely arduous.”

The chart paints a stark picture: the ETH/BTC pair has declined by nearly 80% from its local highs, now hovering at major historical support near 0.047. This level served as a base during previous accumulation cycles (2019–2020), but ETH has yet to show signs of reversal.

“Will $ETH eventually have a run? Yeah, probably,” Sherpa notes. “But I’d rather buy it on the way up than try to get ahead of it.”

The cautious stance reflects broader sentiment in the market. Despite a positive long-term outlook, Ethereum must first outperform Bitcoin before altcoins can collectively rally.

Without this shift, BTC.D is likely to stay elevated, keeping capital concentrated in Bitcoin rather than flowing into riskier altcoins.

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