According to Michaël van de Poppe (@CryptoMichNL), the correlation between CNH/USD and ETH/BTC has historically provided accurate signals for altcoin market bottoms. In previous cycles, a bottom in CNH/USD has coincided with the bottoming of ETH/BTC, leading to significant altcoin rallies. Last month, CNH/USD reached its bottom, suggesting, based on this established pattern, that Ethereum (ETH) may have also bottomed in April 2025. Traders monitoring these correlations should consider potential entry points for ETH and other altcoins, as historical data supports an imminent upward trend. Source: Michaël van de Poppe on Twitter, May 6, 2025.

According to Michaël van de Poppe, the lack of movement in the altcoin markets is directly tied to a strong risk-off sentiment against the US Dollar, as seen in currency markets. He points out that in July 2019, a significant Ethereum bull run began shortly after CNH/USD (Chinese Yuan offshore to US Dollar) reached its bottom. Notably, CNH/USD has bottomed again this month, which van de Poppe suggests could mark the bottom for altcoins as well (source: Twitter/@CryptoMichNL, April 25, 2025). Traders should closely monitor CNH/USD as a leading indicator for potential altcoin market reversals, aligning their strategies with historical patterns and macroeconomic risk signals.