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$ETH is approaching $2000, so why am I more focused on ETH/BTC rather than the round number? On August 7th, the ETH market discussion clearly centered on the $2000 mark, with the price steadily nearing this psychological level. But if you only watch ETH/USD, it's easy to overlook the real variable that determines the strength of altcoin trends: whether ETH has actually strengthened relative to BTC. The logic is simple. If ETH rises 10% but BTC rises 12% during the same period, ETH appears to have increased, but capital is still more inclined toward BTC; only if ETH/BTC continues to strengthen can it indicate that risk appetite is spreading from BTC to higher Beta assets. Fundamentally, in Q1 2026, Ethereum's new addresses grew 82% quarter-over-quarter to about 284,000, with total transactions reaching 200.4 million; stablecoin supply on Ethereum reached about $180 billion, while exchange ETH reserves dropped to about 16 million coins. These data are moderately positive for mid-term supply and demand, but short-term price confirmation is still needed. My observation sequence will be: can ETH hold above 2000 → does ETH/BTC strengthen simultaneously → do major altcoins like SOL start to follow. If only ETH briefly breaks 2000 but ETH/BTC does not improve, I won’t easily define it as the "alt season" starting. Risk reminder: fundamental improvements and short-term price increases are not the same thing. If there is a volume surge near $2000 followed by a pullback, beware of a false breakout. #SepHikeOddsFallHawks #AIMemoryBullContinues #SpaceXUnlockRebound