Ethereum Ready to Bottom Out Against Bitcoin, Predicts Analyst

Analyst Predicts Cycle Bottom for Ethereum Against Bitcoin

A popular crypto analyst suggests that the Ethereum versus Bitcoin (ETH/BTC) pair is on the brink of establishing a cycle bottom.

Bitcoin Dominance and Potential for ETH/BTC

The analyst notes that while Bitcoin’s dominance level is currently rising, indicating a possible leg down for ETH/BTC, there is still a chance for Ethereum to bottom out against Bitcoin before other altcoins do.

Possible Scenario for Ethereum

There is a scenario where Ethereum could reach its bottom against Bitcoin before other altcoins do, signaling the final stages of capitulation for ETH/BTC. The analyst believes this bottom may occur soon.

Price and Market Update

ETH/BTC is currently trading at 0.04125 BTC ($2,597), with Bitcoin dominance at 57.64%. The worst-case scenario could involve a bounce followed by a lower low in December.

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