Ethereum has been quietly grinding higher while everyone’s watching Bitcoin. It’s holding decent structure but still hasn’t shown that explosive move people are waiting for. The ETH/BTC ratio is still weak — that’s the real story. Until Ethereum starts outperforming Bitcoin, capital won’t rotate into the broader alt market. This ratio is the key signal everyone should be watching. On the macro side, same story as BTC — hot PPI, sticky inflation, no rate cuts coming soon. Risk assets are squeezed. But Ethereum has its own catalysts. ETF inflows have been steady, staking yields are attractive, and the Layer 2 ecosystem keeps growing. The Glamsterdam upgrade also boosted long-term fundamentals. Short-term I’m neutral. $ETH needs to reclaim key resistance and most importantly start beating BTC on the chart. Until then, it’s stuck in BTC’s shadow. Best move: accumulate on dips, don’t chase pumps, and watch ETH/BTC closely — that’s the chart that’ll tell us when altseason is actually starting.​​​​​​​​​​​​​​​​