The cryptocurrency market has slipped into red territory once again. A wave of liquidations has pulled Bitcoin below $110,000, while Ethereum has also retraced after reaching a fresh all-time high recently. The immediate trigger was a massive sell-off: on August 25, a single entity dumped 24,000 BTC, sparking a sharp flash crash.
While panic gripped through the market, analysts say that the real question is not the dip, but where Bitcoin and Ethereum could be heading by the end of this cycle.
Ethereum Shows Strength Against Bitcoin
Crypto analyst Lennaert Snyder explained that Ethereum is currently showing relative strength against Bitcoin. The ETH/BTC chart has printed fresh highs, a sign that capital is rotating toward Ethereum even as Bitcoin cools down.
“In the near term, I expect ETH to outperform. After Ethereum cools off from its expansion phase, I believe Bitcoin will have another leg up,” he said in an interview with Coinpedia.
This rotation between the two assets has historically marked the early stages of new cycles, with Ethereum often gaining first before Bitcoin reclaims dominance.
Despite the short-term pain, Snyder remains bullish about Bitcoin’s trajectory. He expects the world’s largest cryptocurrency to eventually push higher once the dust settles from the flash crash.
“My estimated target is around $150K/$180K,” he said.
Ethereum’s Long-Term Targets
While Bitcoin may make noise as digital gold, Snyder sees Ethereum’s long-term growth as equally strong. ETH could chart a powerful run of its own once Bitcoin reaches its next top.
“My final target for Ethereum is around $8,000 and $12,000,” Snyder shared. He also added, “Again, these are just estimations.”
Once Bitcoin and Ethereum reach their peaks, capital often rotates into altcoins. Snyder expects the same pattern this cycle.
“After Bitcoin potentially tops out, I expect Ethereum to have another push, with altcoins also getting their moment to shine,” he concluded.
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