According to @CryptoMichNL, there is a strong confluence between the Chinese yuan and the ETH/BTC pair, with both bottoming in April 2025 and similarly in the same week during 2016 and 2019 (source: @CryptoMichNL, X, Dec 20, 2025). According to @CryptoMichNL, ETH showed notable strength after the April low but has seen a recent correction, while the Chinese currency continued to trend higher (source: @CryptoMichNL, X, Dec 20, 2025). According to @CryptoMichNL, the correlation is not always one-to-one, but his chart implies the path ahead for ETH/BTC is upward from here (source: @CryptoMichNL, X, Dec 20, 2025).

According to Michaël van de Poppe, the correlation between CNH/USD and ETH/BTC is a strong regime indicator for altcoin bull and bear markets, with both now in an uptrend after bottoming in April; source: Michaël van de Poppe (@CryptoMichNL) on X, Sep 28, 2025. He states both CNH/USD and ETH/BTC bottomed in April similar to the 2019 low and are currently correcting within an uptrend, implying momentum has not been lost; source: Michaël van de Poppe (@CryptoMichNL) on X, Sep 28, 2025. He concludes this setup marks a buy-the-dip period for altcoins, guided by the CNH/USD and ETH/BTC correlation signal; source: Michaël van de Poppe (@CryptoMichNL) on X, Sep 28, 2025.