According to Michaël van de Poppe, the ETH/BTC pair bottomed in the same week as the Chinese yuan’s low versus the dollar in 2016, 2019, and April 2025, indicating a recurring cross-asset cycle correlation that traders can monitor for timing pivots; source: Michaël van de Poppe on X, Dec 6, 2025. He states that since the latest bottom, ETH/BTC has outperformed BTC/USD while the dollar weakened, highlighting relative strength in ETH versus BTC; source: Michaël van de Poppe on X, Dec 6, 2025. He adds that BTC and ETH are risk-on yet increasingly mature within a shifted Web3 market, that gold has raised the upside ceiling for these assets, and that the market is exiting a bear phase into a new uptrend; source: Michaël van de Poppe on X, Dec 6, 2025.