Bitcoin tapped $87,000 earlier this week before settling in the $85,000 range. The asset is trading around $85,900 on the back of 13 percent gains over seven days and nearly 11 percent over 30 days.
Ethereum moved from under $2,500 to $2,700, up 14 percent weekly and over 11 percent monthly. More significantly, the ETH/BTC pair hit its highest weekly close in eight months—a textbook altcoin breakout signal that matters for positioning.
When ETH/BTC rallies like this, it means capital is rotating out of Bitcoin into alts. Traders interpret this move as confirmation that the broader altcoin sector is gaining real strength. If the current uptrend holds, expect sustained inflows into smaller-cap assets.
Analysts are projecting substantial returns across the cycle. The previous bull run saw Bitcoin climb from $60,000 to $126,000. Ethereum moved from $4,800 to $4,900—a lag that many expect to close this cycle. Some analysts now target Bitcoin at $190,000, with new all-time highs likely within the year or extending into 2025, aligned with traditional four-year market cycles.
Ethereum's near-term technicals matter for momentum. The asset is trading at its 100-week simple moving average, making this week's close critical. A close above that level could push ETH toward $3,300 to $3,400. A rejection would target the $2,550 support zone.
