According to @CryptoMichNL, the ETH/BTC pair has been flat in recent weeks, showing Ethereum has not underperformed Bitcoin despite recent stress, which is atypical for a bear-phase correlation. Source: @CryptoMichNL (X, Nov 23, 2025) He notes that in a standard bear market, a 25% two-week decline in BTC would typically see higher-beta ETH fall 40–45%, which did not occur, implying the drawdown pressure has been BTC-specific. Source: @CryptoMichNL (X, Nov 23, 2025) He is monitoring a crucial support on the ETH/BTC ratio; if it holds and ETH outperforms on the next bounce, it would signal rotation and indicate the cycle is not over. Source: @CryptoMichNL (X, Nov 23, 2025) For traders, the focus is on ETH/BTC relative strength as confirmation; a sustained hold and breakout would favor ETH over BTC on rebounds, while a loss of the cited support would negate the rotation signal. Source: @CryptoMichNL (X, Nov 23, 2025)

According to Michaël van de Poppe (@CryptoMichNL), his current altcoin portfolio is expected to yield a higher beta compared to blue-chip cryptocurrencies, indicating higher volatility and potential returns. He also mentioned that if he were not invested in his current portfolio, he would consider investing entirely in Ethereum ($ETH). This insight suggests a strategic preference for altcoins over blue chips for higher risk-adjusted returns, while still acknowledging Ethereum's potential as a solid investment choice.