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Crypto analyst Astronomer (@astronomer_zero) says his long-standing backside thesis on the ETH/BTC pair has performed out and printed specific cycle targets anchored to the cross. In a chart shared on X, he reiterated that “ETH backside name” is in and framed the roadmap solely by ETH/BTC ranges reasonably than ETH/USD, arguing that Ether’s outperformance sometimes follows Bitcoin’s impulse and that “all main liquidity comes from BTC.”
How Excessive Can Ethereum Go This Cycle?
Astronomer’s publish facilities on a multi-month “zone” on ETH/BTC that he had marked upfront as a possible cyclical inflection. He writes that the decision appeared “delusional” when first drawn—“a ‘ridiculously lengthy’ prediction line (straight up from the underside) from what ‘may impossibly be the ETHBTC backside’ on the time”—however says the flip aligns along with his proprietary sentiment work.
“The sentiment on ETH was the worst my sentiment metric has ever tracked,” with narratives starting from “ETH is a foul funding,” to “ETH basis is promoting,” to “SOL is the brand new ETH,” to “utility cash are lifeless.” In his phrases, “that kind of sentiment allowed us to verify the underside on ETHBTC in alignment with our historical plan, on the time it hit our zone.”
Associated Studying
With that backdrop, the chart and commentary lay out three ETH/BTC targets for the rest of the cycle. The primary is 0.058 BTC per ETH, which he notes was “nonetheless 35% above right here” on the time of posting and, translated straight utilizing spot Bitcoin, “places ETH at approx. $6.500 if BTC stays at this worth.”
The second is 0.091, “just about a double from right here,” comparable to “$ETH to $10,000+, 5 figures,” a stage the place he says he “can have bought over half of my spot baggage.”
The ultimate and highest goal is 0.16, “just below a 4x from right here, placing ETH at $20,000 or larger.” He’s specific that the 0.16 mark is aspirational reasonably than base case: “That’s definitely my highest goal, and I don’t count on that to be reached assured. However I adore it open simply in case it does occur.”
The technical logic he presents is intentionally pair-driven. By mapping the cycle with ETH/BTC, he seeks to seize relative energy reasonably than absolute worth and to sidestep the shifting base of BTC’s greenback worth. The implied ETH/USD ranges in his publish are easy translations of ratio × BTC worth; he provides that these USD conversions “will, the truth is, be underestimates as I additionally see BTC rise additional.” In different phrases, the chart’s horizontal ranges are ETH/BTC at 0.058, 0.091, and 0.16; the USD numbers are contingent and can float with Bitcoin.
Associated Studying
The analyst additionally rejects calendar heuristics outright. “The rationale I by no means discuss seasonality or ‘pink September’ or ‘promote in Could, stroll away’… is as a result of I don’t wish to promote placing your hard-earned capital on weak knowledge… Seasonality, has neither.” He provides that “Seasons don’t work in markets, solely cycles do,” and indicators off with a jab on the meme: “For pink September, kindly, go to your native forest…”
Importantly, the pathway he describes is conditional on the identical relative-rotation dynamic that has ruled previous cycles: Bitcoin leads, Ether lags till liquidity rotates, then ETH/BTC advances by predefined cabinets. In that framework, the evaluation doesn’t depend upon any single ETH/USD quantity; it will depend on ETH/BTC reclaiming and holding the cited bands.
Astronomer is candid about positioning psychology as nicely. He argues that whereas “it appears as if many are all bull posting ETH now and holding huge baggage,” order-flow suggests “most of these folks haven’t purchased from down low, are reasonably frozen out or are compelled to purchase larger with larger leverage.” In his view, that construction nonetheless favors upside towards the posted ETH/BTC targets: “So so long as that stays that method, I proceed to count on these targets.”
At press time, ETH traded at $4,621.
Featured picture created with DALL.E, chart from TradingView.com
