Key Points
- Ethereum’s value dropped to $2.3K, potentially signaling an end to the altcoin season.
- The altcoin market lost $160B in market cap in 24 hours, with BTC dominance on the rise.
On 25th February, the value of Ethereum (ETH) fell to $2.3K, breaking the $2.6K threshold.
This drop was predicted by crypto analyst Ali Martinez to potentially mark the end of the altcoin season.
Altcoin Season Status
In a single day, the altcoin market lost an additional $160B in market cap, decreasing from $1.28 trillion to $1.12 trillion.
Since the peak in December, the altcoin sector has lost over $590 billion due to consistent bearish pressure.
The ETH/BTC ratio, a measure of altcoin momentum using Ethereum’s performance, has yet to hit a definitive low point.
The ratio has fallen 68% to levels not seen in five years.
Unlike the minor rebound in late 2024, which spurred the November altcoin surge, the indicator has not experienced a significant relief rally in 2025.
This could negatively impact altseason expectations.
However, Ki Young Ju from CryptoQuant noted a 24% increase in large player addresses holding between $10K-100K ETH over the past year.
With a cost basis of $2,199, Ethereum’s continued recovery could hinge on the price remaining above $2.2K.
Despite this, the altcoin season index was at 31, indicating a solid Bitcoin (BTC) season.
Furthermore, Bitcoin’s dominance rose over 2% from 60% to 62% in the past week, potentially limiting the prospects for altcoin recovery in the near term.
Altcoin Outliers
Interestingly, some altcoins experienced double-digit gains despite the overall bearish pressure.
Story [IP], Maker [MKR], Sei [SEI], and Berachain[BERA] were among the top performers of the week.
In contrast, Raydium’s RAY was the hardest hit, falling 46%, with additional pressure from Pumpfun launching its automated market maker (AMM) for its graduated tokens.
