Renowned analyst analyzes, "Funds moving from Bitcoin to Ethereum, signs of alt season"

## Leading to an alt season driven by ETH

On the 19th, renowned cryptocurrency analyst Willy Woo analyzed that signs of a full-fledged bull market are coming together, stating that "a bull market cannot occur without a rotation (fund transfer) to alt season, and the rise of Ethereum is usually a precursor to that."

What Mr. Wu cited was an analysis released on the 18th by his own analytics platform "Bitcoin Vector," which reported that funds are moving from Bitcoin to Ethereum. As Bitcoin stabilizes around $120,000, it was analyzed that the leadership has begun to shift towards Ethereum.

The same platform confirmed that the market structure and momentum remain bullish. It is evaluated that a setup similar to the major Bitcoin upward phase after 2024 has formed, creating a suitable environment for Ethereum (ETH) led alts expansion.

The fundamentals of Bitcoin are maintaining an upward trend in both liquidity and network growth. This has been analyzed as a movement supported by sustained and organic strength, rather than a short-term speculative rise.

Multiple analysis firms are also confirming signs of the start of alt season. Swissblock noted on the 17th that initial signs of weakness have begun to appear in the Bitcoin dominance that has continued since last December, and pointed out that, unlike in the past, it shows strength that breaks through symbolic thresholds. It also evaluated that Ethereum plays an important role as a bridge for capital inflow.

Glassnode reported on the 18th that its unique alt season indicator lit up on July 9. They analyzed that the simultaneous expansion of stablecoin supply and capital inflow into Bitcoin and Ethereum has created a structurally bullish environment for the altcoin market.

The data site Coin Glass also confirmed the rise of the altcoin season index. Currently, with 39 indices exceeding 70, it was analyzed that the timing for selling alts has arrived.