Ethereum: Bottom Signal Confirmed – Will ETH Reach 20,000 USD in This Cycle?

Astronomer (@astronomer_zero), a renowned technical analyst, just published a noteworthy analysis on X, asserting that the "cycle bottom" argument of the ETH/BTC pair that he has been pursuing for many months has officially been confirmed. What is particularly special about his approach is that it is entirely focused on the ETH/BTC exchange rate rather than ETH/USD – a method he believes accurately reflects the relative strength of Ethereum compared to Bitcoin and avoids distortion from USD fluctuations. Confirm ETH/BTC Bottom From Market Sentiment According to Astronomer, a prolonged price range on the ETH/BTC chart has just served as a key turning point in the cycle. "The sentiment around ETH is at the worst level I have ever tracked," he wrote. "Comments like 'ETH is a bad investment', 'Funds are panic selling ETH', 'SOL is the new ETH', or 'utility coins are dead' – this kind of extreme negative sentiment allows us to confirm the ETH/BTC bottom as initially predicted." He believes this is a classic sign of market capitulation, a factor that often appears before the flow of money begins to rotate back from Bitcoin to Ethereum. Three ETH/BTC Goals for the Current Cycle Based on the cycle model and relative strength, Astronomer sets three clear targets for ETH/BTC: 0.058 BTC/ETH – About 35% higher than the current level. If Bitcoin maintains its current price, this level is equivalent to about 6,500 USD/ETH. 0.091 BTC/ETH – Nearly double the current level, raising ETH to around 10,000 USD or higher. This is the range where he plans to take profit on more than half of his trading portfolio. 0.16 BTC/ETH – The most ambitious target, equivalent to 20,000 USD/ETH or higher. Astronomer admits this is not the base case scenario, but still keeps the possibility open in case of strong cash flow into altcoins. The noteworthy point, according to him, is that the USD figures are merely a temporary conversion. In fact, he believes that Bitcoin will continue to rise, meaning that the price of ETH in USD could be much higher when the ETH/BTC milestones are conquered. Why is ETH/BTC the main indicator? The astronomer emphasizes that ETH usually only explodes after Bitcoin has reached its peak in the early stage of the cycle. "All the main liquidity comes from BTC," he explains. "When Bitcoin pulls in money first, the capital flow will eventually rotate to ETH – that is the cycle law that has repeated many times." Therefore, he does not rely on the ETH/USD chart or theories of "seasonality" such as "September red" or "Sell in May". According to him, seasonal factors are random, while the cash flow cycle is the core driver. Cash Flow and Position Structure Support Uptrend Despite opinions that many investors are "holding" ETH, Astronomer believes that most of them did not buy at the bottom, but are either stuck with their capital or used high leverage. "This structure actually supports the buying side," he wrote. "As long as the flow of money continues to shift from BTC to ETH, I will maintain my expectations for the announced targets." Conclusion The analysis from Astronomer reinforces the belief that Ethereum is on the verge of a strong breakout in the current cycle, with potential milestones ranging from 6,500 USD to 20,000 USD if a positive scenario occurs. This not only reflects the inherent strength of ETH but also emphasizes the importance of monitoring the ETH/BTC exchange rate – a key indicator for the flow of money in the crypto market.