Ethereum News Today: Ether's 6.09% 24-Hour Gain Sparks Altcoin Rally Optimism

Ether's recent price performance has sparked optimism among traders who believe it could be the first sign of a broader altcoin rally. Michaël van de Poppe, co-founder of MN Trading Capital, has taken a strong bullish stance on altcoins, suggesting that investors could see returns of between 200–500% within the next two to four months. His analysis highlights that the recent upward movement in Ethereum (ETH) indicates a growing appetite for risk in the market, potentially shifting investor focus beyond Bitcoin to other cryptocurrencies [1].

At the time of the report, Ether had risen 6.09% in the past 24 hours, trading at $3,854 according to Nansen. Over the past 30 days, the ETH/BTC ratio—the metric used to measure Ethereum’s relative strength against Bitcoin—had increased by 38.53%, as reported by TradingView [1]. This rise is often interpreted by market participants as a sign that altcoins may be entering a phase of outperformance. Many traders view Ethereum’s strength as a leading indicator for broader altcoin activity, signaling that investors are increasingly open to higher-risk assets [1].

Despite this bullish sentiment, not all traders share the same view. Ash Crypto, a cryptocurrency trader, has highlighted the historically weak performance of Ether during the third quarter. Since 2016, the average return for Ethereum in Q3 has been only 6.48%, based on data from CoinGlass [1]. Given this historical bearish pattern, he advised investors to maintain a cautious stance, even as Ethereum appears to be gaining momentum.

Skepticism also exists regarding the sustainability of the current price action. One trader noted that the current upward move may have reached a natural pause, and a rise to $4,000—representing a 3.7% increase from the current level—could trigger the liquidation of short positions valued at around $817 million in Ether [1]. This highlights the high volatility and uncertainty currently present in the market.

On the other hand, some traders believe that this time could be different. Cas Abbe, another crypto trader, pointed to declining exchange supply and increasing institutional interest as key factors that could allow Ethereum to “rekt the bears” [1]. Meanwhile, crypto analyst Wolf suggested that if Fundrat’s Tom Lee’s $16,000 ETH price prediction comes true, it would not be a surprise. He described the likely path as “volatility, disbelief, then verticality,” a phrase reflecting the unpredictable nature of crypto markets [1].

The market remains divided between those who see a strong case for a major altcoin rally and those who caution about historical trends and short-term risks. As Ethereum continues to show strength, investors are urged to approach the market with due diligence, as all investment and trading decisions carry inherent risk [1].

Source: [1] Ether Price Surge Signals Altcoin Rally Underway – Crypto Trader (https://cointelegraph.com/news/ether-price-surge-signals-altcoin-rally-underway-crypto-trader)