A stronger ETH/BTC may indicate that BTC.D is peaking, signaling a new chapter in the Ethereum bull run.

Ethereum (ETH) has rebounded 50% from the early July low of $2,373, currently reported at $3,559.11, mainly benefiting from institutional capital inflow and a surge in demand for spot ETFs. At the same time, the ETH/BTC exchange rate has broken through a key resistance, indicating a strong return against Bitcoin, which may signal that Bitcoin dominance has peaked, triggering a new round of "alts season."

ETH/BTC strengthens, possibly confirming the next bull market phase On the weekly chart, the ETH/BTC Exchange Rate has strongly broken through the local resistance level of 0.02629, and is approaching the next key resistance at 0.02968. Once this level is broken, ETH/BTC will establish a larger upward trend, ending the continuous decline since 2023.

Previously, since the summer of 2024, the ETH/BTC trend had once plunged into a free-fall like retracement. However, since entering July, with the recovery of Ethereum demand, this trend has finally shown signs of reversal.

Cryptocurrency analyst Matthew Hyland pointed out on the X platform that if ETH/BTC successfully breaks through and establishes an upward trend, "there is a 99% chance that Bitcoin's dominance (BTC.D) has peaked." This conclusion suggests that the market is gradually shifting from Bitcoin dominance to "altcoin relay," which is favorable for all non-BTC assets, especially mainstream public chain coins represented by Ethereum.

The BTC.D structure has not yet confirmed a break, patience is needed for the rhythm Although the ETH/BTC pair shows a bullish structure, BTC Dominance (BTC.D) has not yet lost its key structure on the weekly chart. It is currently pulling back to a high low of 62.4%, but has not yet formed a clear trend reversal signal. Hyland analysis suggests that once ETH/BTC continues to rise, BTC.D will experience a trend break, confirming the altcoin rebound phase.

AMBCrypto also pointed out that this structural transition requires time validation and does not mean the end of the Bitcoin bull cycle. In fact, even if ETH/BTC sees an upward breakout, it may still experience multiple pullbacks or consolidation in the short term.

In this context, Bitcoin may continue to reach new highs, while ETH and other altcoins rise in rotation. Therefore, investors should not rush to liquidate their Bitcoin, but should focus on the overall market rotation opportunities.

Is the terminal bull market phase after the April halving upon us? If ETH/BTC continues to break upwards, combined with a confirmation of a peak in BTC.D, it will signal the acceleration phase at the end of the bull market. This phase is usually accompanied by a significant rise across the entire crypto market, rather than just a single coin. Major coins such as Bitcoin, Ethereum, Solana, and high-profile altcoin projects may collectively experience significant appreciation.

Conclusion: The structural reversal signal of ETH/BTC may become the ignition point for a new round of altcoin bull market. If BTC.D confirms a peak, it will signify an accelerated flow of funds into non-BTC assets, and the market rotation logic has been initiated. The next few months may become the last and strongest upward journey in the entire crypto cycle.