Key Developments in Bitcoin and Ethereum

A prominent cryptocurrency analyst on X has highlighted significant updates regarding Bitcoin and Ethereum, the leading cryptocurrencies.

In his latest post, the analyst examined the potential effects of Bitcoin’s current consolidation and questioned if Ethereum’s revival could instigate an altcoin season.

Analyst Identifies Bitcoin “Entry Zones”

The analyst believes Bitcoin’s recent trajectory aligns with consolidation patterns, indicating that lower price levels present optimal entry zones for bullish traders.

He also points out that Ethereum displays a bullish “momentum switch,” performing better than Bitcoin, which he views as a highly positive indicator for the altcoin market—something he claims to have not observed in years.

Bitcoin Support Range: $87K – $91.5K

To illustrate his point, the analyst shared a screenshot of Bitcoin’s daily chart to highlight the “ideal zones” for entry. These zones are situated within Bitcoin’s established support region, dating back to December 2024, specifically the price range of $87,000 to $91,500.

Courtesy: Michaël van de Poppe

Data from TradingView validates that Bitcoin hasn’t dipped below this level despite several attempts. However, should Bitcoin fall below this entry zone, the analyst warns it could signal bearish trends, potentially leading to a price decline to $71,000.

Ethereum Exhibiting Bullish Strength Against Bitcoin

Importantly, the analyst noted Ethereum’s bullish move against Bitcoin over the last 24 hours.

The ETH/BTC daily chart on TradingView shows the pair bouncing off a mid-term upward trendline, sustaining bullish momentum for the past two weeks. If this trend continues, it may indeed initiate a bullish span for altcoins and possibly reverse the bearish sentiment that has prevailed in the crypto market since mid-January 2025.

The altcoin market has been under strain since mid-January, with the total altcoin market cap peaking at $1.56 trillion on January 18 before falling to a yearly low of $1 trillion on February 3. Though a partial recovery has occurred, the altcoin market cap currently stands at $1.21 trillion, with investors eager for an altcoin season to trigger a full recovery.

Disclaimer: The information presented in this article is for informational and educational purposes only. This article does not constitute financial or any other kind of advice. Coin Edition is not liable for any losses incurred due to the use of content, products, or services mentioned. Readers should exercise caution before taking any action related to the company.