Ethereum’s Performance Surpasses Bitcoin, Indicating Potential Altcoin Season
There is growing speculation that an altcoin season is on the horizon as Ethereum outperforms Bitcoin in terms of open interest growth. This trend suggests a shift in investor focus, potentially favoring Ethereum and other altcoins over the traditionally dominant Bitcoin.
According to renowned analytics firm Rekt Capital, Ethereum is currently at a critical juncture. In order to surpass the $4,000 mark, the cryptocurrency must close the week above $3,956. At present, Ethereum is displaying a pattern of forming a lower high, which could impact its short-term price trajectory.
The ongoing consolidation of Ethereum’s price within its current range has raised investor optimism for an early onset of the altcoin season. If Ethereum can maintain its momentum and break through key resistance levels, it could trigger a broader rally among altcoins, diverting attention and capital away from Bitcoin.