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- #Over 100 Companies Hold Over 830,000 BTC#
According to reports as of June 19, more than 100 companies collectively hold over 830,000 BTC, worth about $86.476 billion.
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The ETH/BTC ratio shows a 55% pump potential, which may trigger "altcoin season".
According to a report by Cointelegraph on May 31, deep tide TechFlow news states that ETH/BTC is forming multiple bullish technical patterns, and analysts believe this could trigger a new round of "alts season" in 2025.
On the technical front, the ETH/BTC ratio simultaneously exhibits a cup and handle pattern and a bullish flag pattern. The cup and handle pattern indicates a potential breakout at the 0.02596 BTC neckline, with a technical target close to 0.03814 BTC, suggesting a possible rise of 55% by July. Meanwhile, the bullish flag pattern suggests a potential breakout to 0.03235 BTC, about 30% higher than the current level. Analyst Trader Tardigrade stated that the breakout of ETH/BTC could trigger an altcoin season in 2025.
The data presented by analyst Sensei shows that the market capitalization of alts relative to Bitcoin is re-testing the long-term rising support trend line. Historically, each rebound from this level has signaled a massive rise in alts, once resulting in a 9,000% rise and another time triggering a 180,000% market cap explosion.
Analyst Moustache also pointed out that altcoins are breaking through a seven-year descending wedge, a pattern that appeared before significant rises in 2017 and 2020, suggesting that a new altcoin season may be approaching.