Journalist
Posted:
- ETH’s plunged to $2.3K as crypto prolonged losses in February.
- Altcoins remained capped amid elevated BTC dominance.
On twenty fifth February, Ethereum [ETH] plunged additional to $2.3K, cracking beneath the $2.6K threshold, which crypto analyst Ali Martinez projected may ‘cancel altcoin season.’
Per Martinez’s analysis, a dip beneath the Ethereum’s long-term ascending channel would sign a break in ETH’s market construction and weigh on the altcoin market.
“Altseason can be canceled if #Ethereum $ETH fails to carry $2,600!”
Supply: X
Altcoin season standing
Prior to now 24 hours, the altcoin market shed an additional $160B in market cap after dropping from $1.28 trillion to $1.12 trillion.
Since final December’s peak, the altcoin section has misplaced over $590 billion amid persistent bearish strain.
Supply: CoinMarketCap
Even the ETH/BTC ratio, one of many indicators of the altcoin momentum utilizing ETH’s efficiency because the barometer, was but to report a decisive backside.
The ratio has dropped 68% to ranges final seen 5 years in the past.
Supply: ETH/BTC ratio, TradingView
In contrast to the slight bounce in late 2024, which boosted the November altcoin pump, the indicator has not seen a powerful reduction rally once more in 2025. This might dent altseason expectations.
Nonetheless, CryptoQuant’s Ki Younger Ju noted that enormous gamers’ addresses with $10K-100K ETH, surged 24% up to now 12 months.
Apart from, with a price foundation of $2,199, ETH’s sustained restoration may rely on value holding above $2.2K.
That stated, the altcoin season index was at 31, suggesting it was a agency BTC season.
Supply: Blockchain Heart
Apart from, BTC dominance surged over 2% from 60% to 62% over the previous week, which may cap altcoin restoration prospects within the brief time period.
Surprisingly, some altcoin outliers noticed double-digit features regardless of the general bearish strain. Story [IP], Maker [MKR], Sei [SEI], and Berachain[BERA], had been amongst the highest weekly performers.
In the meantime, Raydium’s RAY was the worst hit, down 46%, with further strain from Pumpfun launching its automated market maker (AMM) for its graduated tokens.