ETH is now clearly stronger than BTC.

Capital is starting to flow back into ETH.

Because the market is slowly recovering.

Usually, a round of capital rotation follows this rhythm:

First buy BTC, then buy ETH, and finally it will be the turn of more altcoins.

BTC is more like a safe-haven asset.

While ETH plays a role with more risk appetite.

Therefore, when ETH starts to outperform BTC, it often means the market is willing to take on more risk.

However, I think it's still too early to jump to conclusions.

ETH's strength does not mean that altcoin season has arrived.

What really needs to be observed are two signals:

1; Whether the ETH/BTC exchange rate can continue to remain strong, rather than being a one-day move;

2; After ETH strengthens, whether mainstream ecosystem projects such as SOL, LINK, UNI, AAVE begin to show continuous rotation.

If only ETH rises alone, it is more about capital switching between mainstream assets.

If the entire ecosystem starts to take turns rising, then it indicates that market risk appetite is further warming up.