A prominent cryptocurrency trader has voiced optimism about Ethereum (ETH) compared to Bitcoin (BTC).

During a recent strategy session, the pseudonymous crypto analyst known as Altcoin Sherpa shared with his 217,800 followers on the social media platform X that the Ethereum/Bitcoin (ETH/BTC) pair is “maintaining considerable strength.”

Sherpa highlighted that the ETH/BTC pair is currently positioned favorably for long-term opportunities, particularly with the potential approval of Ethereum exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC).

“ETH reaching new all-time highs is highly likely by year-end.”

Source: Altcoin Sherpa/X

As of the latest update, Ethereum is trading at 0.05457 BTC ($3,142), marking an increase of approximately 187% needed to match its all-time high of 0.15636 BTC from November 2021.

Switching focus to Bitcoin, Sherpa observed, “Prices are maintaining a high range between $73,000 and $56,000 in the larger timeframe, although short-term prospects appear bearish.”

Source: Altcoin Sherpa/X

Concluding his analysis, Sherpa predicted a potential bullish phase for altcoins starting in approximately three months.

“Altcoins continue to experience selling pressure, and I don’t foresee this ending soon. I never quite understood expectations for a ‘summer alt season.’ While a positive sentiment for an ETH ETF bid exists, a robust Bitcoin market is generally necessary for this scenario. It remains possible, albeit my outlook is cautious. I anticipate a period of consolidation in the coming months, followed by a promising Q4.”

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