Ethereum's Momentum Shift Sparks Altcoin Rally Hopes

Bitcoin's price has been consolidating, but analysts are now focusing on Ethereum's momentum shift, which could potentially spark a rally in altcoins.

According to a prominent cryptocurrency analyst, Bitcoin's recent behavior aligns with consolidation, making the lower price levels ideal entry zones for bullish traders. The analyst highlighted Bitcoin's support range between $87,000 and $91,500, which has held despite several attempts to break below it. However, a break below this level could signal a bearish trend, potentially leading to a price drop to $71,000.

The analyst also noted a significant development involving Ethereum. In the last 24 hours, Ethereum has shown bullish strength against Bitcoin, bouncing off a mid-term upward trendline and maintaining bullish momentum for the past two weeks. This trend could potentially kickstart a bullish period for altcoins and reverse the bearish sentiment that has dominated the crypto market since mid-January 2025.

The altcoin market has been under pressure since mid-January, with the total altcoin market cap reaching a peak of $1.56 trillion on January 18 before plummeting to a yearly low of $1 trillion on February 3. Although there has been a partial recovery, the altcoins' market cap currently sits at $1.21 trillion, and investors are hoping an altcoin season will trigger a full rebound.