Is Altcoin Season Over? ETH/BTC Approaches 0.032 Critical Support Zone

Updated

October 17, 2025

Gambar Is Altcoin Season Over? ETH/BTC Approaches 0.032 Critical Support Zone

Jakarta, Pintu News – The crypto market is now entering a decisive phase as the ETH/BTC pair drops to a crucial support zone in the range of 0.032-0.034. This drop has sparked a heated debate among analysts as to when the long-awaited Altseason will actually begin.

Some analysts argue that Bitcoin needs to set a new price record high first to trigger a massive rally in altcoins. However, others believe that Ethereum could start the next bullish cycle on its own-without having to wait for BTC to lead the market.

Bitcoin – Altseason Signal Decider?

According to analyst Benjamin Cowen, the current market conditions are just a “prologue” to a broader market expansion. He emphasized that two main conditions must be met for Altseason to actually happen: Ethereum must break the $5,000 level and hold above that level as support.

This also suggests that Bitcoin should make a new all-time high. When BTC reaches a new high, Bitcoin market dominance (BTC Dominance or BTC.D) usually follows suit-a pattern that has been consistent in every previous market cycle.

To those that keep calling for ALT Season:

In order for ALT Season to happen, ETH needs to go to $5k+ and hold it as support.

For ETH to go to $5k *AND* hold it as support, it means BTC needs to also go to all time highs.

The process of BTC going to all time highs would make…
— Benjamin Cowen (@intocryptoverse) October 14, 2025

“So the only way to get Altseason is for BTC.D to rise first as BTC prints new highs,” Cowen said.

However, AG analysts provide an additional perspective. He mentioned that the peak of BTC dominance does not always coincide with the peak of Bitcoin price.

Historically, BTC.D tends to drop about 30% from its peak once BTC reaches ATH, and a similar pattern seems to be happening now. This suggests that the dominance peak in June 2025 at around 65% may already be the peak of the current cycle.

Previously, BTC’s dominance was noted to have increased by close to 59%, while the Altcoin Season Index fell below the 75 mark. This indicates that altcoins are still lagging behind and sparked concerns that the Altseason might be delayed.

Ethereum Could Trigger Market Momentum?

Some analysts even argue that the current “altcoin season” is happening in the stocks of publicly traded crypto companies, not in the crypto tokens themselves.

Cowen sticks to his view that the Altseason has yet to begin, especially since ETH failed to break back to its highest level in its first attempt.

The reason I said back in August that it was not ALT season was because I expected ETH to get rejected on its 1st attempt at all time highs.

ALT/BTC pairs went lower while ETH/BTC should put in a higher low.

What happens next for ALTs depends on ETH's ability to break $5k https://t.co/hsttkj9W52
— Benjamin Cowen (@intocryptoverse) October 14, 2025

The ALT/BTC pair is also on the decline, although ETH/BTC may be forming a higher low. The next big move in altcoins will largely depend on how ETH reacts as it approaches the $5,000 level.

However, not all analysts agree that Bitcoin should always lead the way.

Hey Ben, what about this?

2017: #BTC toped out on Dec 17 and in the following month $ETH went up by 88%

2021: #BTC topped out on Apr 14 and in the following month $ETH went up by 79%

IF we are in the final stages of the cycle and $BTC has already topped, $ETH has about a… pic.twitter.com/Y1JQMG7BOB
— CryptoBullet (@CryptoBullet1) October 14, 2025

CryptoBullet analysts challenge Cowen’s view by pointing to historical data: Ethereum briefly rose 88% in December 2017 and 79% in April 2021, just after BTC peaked. This proves that Ethereum could have triggered market momentum without having to wait for Bitcoin’s further rise.

ETH/BTC at Critical Support Point

In line with Benjamin Cowen’s cautious stance, analyst Ted also emphasized that the market has not officially entered the Altseason phase.

We are not in an Altseason yet, not even near.

Altcoin MCap excluding stables is still down 20% from its ATH.

For now, we need to see strength in BTC and ETH.

If that happens, alts will get the momentum.

Don't FOMO everything into alts now and wait for a clear sign. pic.twitter.com/OCBKIhuljy
— Ted (@TedPillows) October 13, 2025

Based on historical data, altcoin market capitalization (excluding stablecoins) is still 20% below its record high, indicating that BTC and ETH need to show stronger momentum before altcoins can catch up.

Nevertheless, Ted also highlighted some bullish signals. The ETH/BTC pair is currently testing an important support zone in the range of 0.032-0.034-historical levels that in previous cycles have triggered strong price bounces.

ETH/BTC could bottom out soon.

0.032-0.034 is a strong support zone for ETH/BTC, and we could see a rebound.

Also, the Fed has hinted towards ending the QT program, which has historically been bullish for alts.

This doesn't mean you need to FOMO all in and use high leverage.… pic.twitter.com/78NUJpkx5u
— Ted (@TedPillows) October 14, 2025

Another macro factor to watch out for is signals from the US Federal Reserve. Cues that the Fed may soon end its quantitative tightening (QT) program could boost positive sentiment towards riskier assets, including altcoins, which benefit greatly from looser liquidity conditions.

Meanwhile, analyst FANG has a more optimistic view. He emphasizes that this is the first ETH/BTC uptrend in four years, and asserts that “a setup like this cannot be ignored.” According to him, ETH above $5,000 is only a matter of time.

One does not simply fade the first ETH/BTC uptrend in 4 years

5k+ $ETH is next, don't overthink it pic.twitter.com/sP0OH72ASN
— TANG 🦧 (@cryptorangutang) October 14, 2025

The debate over when the next Altseason signal will appear continues to divide analysts’ views. However, despite the differences in opinion, the majority agree that ETH/BTC is currently in a decisive zone that could be key to the direction of the crypto market in the next few months.

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