ETH begins to rebound against BTC! But the real market trend still requires a key signal. Recently, Ethereum has significantly outperformed Bitcoin, with the ETH/BTC exchange rate rising to about 0.0313, hitting a nearly three-month high. However, this level is still below the January high of this year, indicating that the rebound has not yet fully established a trend. Behind this strength are solid fundamentals: on-chain new user growth has increased by 82% quarter-over-quarter, trading volume has hit a record high, and the total supply of stablecoins has surpassed $180 billion, reaching a new high. But the key question is: is this just a rebound, or a trend reversal? The market is generally focused on a core level—0.035 (ETH/BTC). Only if it can effectively hold above this level on the weekly chart can we confirm that funds are truly rotating from BTC to ETH, rather than short-term sentiment driving the move. Additionally, Ethereum’s current price is still more than 50% below its 52-week high, indicating both room for growth and pressure.