Michael van de Poppe analyzes Ethereum's reactivation: Will it repeat the pre-pandemic altcoin cycle?

Renowned analyst Michael van de Poppe suggests a scenario that has caught the market’s attention: the capital flow patterns that characterized the pre-pandemic period toward alternative cryptocurrencies may be repeating today. This analysis is based on high-impact technical indicators indicating a shift in market dynamics.

ETH/BTC recovers ground with a significant 75% rally

Since its all-time low recorded in Q2 2025, when it touched 0.02, the ETH/BTC ratio has experienced a dramatic rebound. This level coincides with the lows reached in 2019, providing a relevant historical framework for analysts. The 75% rebound from that key support level represents a notable change in the relative perception between the two assets.

While Bitcoin maintains its dominant position in the market with a distributed market cap and a market share of 56.24%, according to current data from February 2026, the outlook for Ethereum is beginning to show signs of renewed strength. ETH experienced a +0.54% increase in the last 24 hours, reflecting sustained buying pressure.

Robust fundamentals of Ethereum and explosion of RWA adoption

Ethereum’s technical foundations remain solid, according to Michael van de Poppe’s analysis. Its market share has increased significantly from a low of 8% to levels above 10%, demonstrating gradual recovery. Of particular relevance is the recent operational milestone: the network has managed to process up to 58,000 transactions per second (TPS), setting new performance records.

A key catalyst in this narrative is the growing adoption of assets backed by real-world assets (RWA). This category of tokens has gained considerable institutional traction, representing a growth vector distinct from traditional speculation. The tokenization of real-world assets is opening new use cases for Ethereum’s blockchain infrastructure.

Bullish outlook with greater regulatory clarity

The regulatory environment has experienced a positive evolution in recent months, removing some of the uncertainty that characterized previous periods. With clearer and more predictable regulations across multiple jurisdictions, Ethereum is positioned to potentially experience a more significant advance in valuation and enterprise adoption.

For Michael van de Poppe, this confluence of factors—technical recovery, innovation in RWA, strong fundamentals, and regulatory clarity—suggests that we may be witnessing the beginning of a rotation cycle into altcoins similar to those observed in previous historical periods.