Ethereum Bagholders Face Reality: Samson Mow Predicts Mass Rotation Back to Bitcoin

Market sentiment shifts as Bitcoin reasserts dominance—leaving ETH maximalists scrambling.

Samson Mow, CEO of Jan3 and noted Bitcoin maximalist, drops a truth bomb: Ethereum's shaky scalability and regulatory overhang could trigger a brutal rotation back to BTC. The 'flippening' narrative? Officially on life support.

Why the reckoning? Layer-2 band-aids can't hide Ethereum's gas fee hemorrhage, while Bitcoin's institutional adoption hits escape velocity. Traders chasing the next shiny DeFi toy now face the cold math of liquidity flows.

One cynical take: When the 'ultrasound money' crowd starts eyeing exit liquidity, even the most delusional bagholders check their portfolios twice. Welcome to crypto’s Darwinian phase—where only the hardest money survives.

ETH/BTC ratio breaks trend

Mow continued to say that Bitcoiners shouldn’t be worried about the ETH/BTC ratio breaking the downward trendline. 

Ethereum has always been a vehicle for those people to get more Bitcoin. It was true for the ICO, and it’s true now.

The metric, which is a measure of the price of Ether in terms of BTC, is currently 0.036, according to TradingView. 

It has doubled since its five-and-a-half-year low of 0.018 in April, as Ether has surged while Bitcoin has remained relatively static. 

Ethereum advocate Anthony Sassano labeled the post as “old school Bitcoin maxis” criticizing Ethereum, and said that it was a bullish sign for ETH.

Rotation back into altcoins

Investor and entrepreneur Ted Pillows offered a different perspective on Sunday, forecasting that Ether will hit a new peak price and spark a mini altseason, before capital rotates back into Bitcoin until it hits about $140,000, followed by a final rotation back into Ether and altcoins. 

This is a typical crypto rotation pattern played out in previous bull market years, with Ethereum and altcoins lagging behind Bitcoin with their cycle highs. 

Bitcoin dominance has also declined 10% since late June as the rotation into altcoins continues. 

Ether’s “incredible pump to $4,300 from institutional interest in strategy reserve plays has aided DeFi platforms in gaining higher TVL, while innovative yield farming and lending strategies draw users back,” Nick Ruck, director at LVRG Research, told Cointelegraph. 

ETH weekly close highest since 2021

Meanwhile, ETH prices have seen their highest weekly candle close since November 2021 as the asset topped $4,300 in late trading on Sunday following a weekly gain of 21%.

Ether is now just 12% away from its 2021 all-time high of $4,878, and momentum is still very much with it despite the derision from Bitcoin maxis. 

ETH/USD weekly chart on Coinbase. Source: TradingView