Altcoin Weakness Surprises Analysts as Ethereum Soars

After a period of gains, altcoins have experienced a notable decline against Ethereum. This dip is attributed to several factors, including the market rotation back towards larger assets like Ethereum. Key indicators such as the TOTAL3/ETH ratio and the OTHERS/ETH ratio have dropped to their historical lows, suggesting an oversold state for altcoins, which could fuel potential rebounds in the future. Analysts point out that the week Ethereum set its all-time high also marked the local low for altcoin pairs. This suggests a possible reversal trend may soon emerge as Ethereum continues to attract investment and surpass key price points.