Market Update: $BTC Next To Price Discovery? - $ETH Still Waiting For Alt-Season

Bitcoin

After recording a new all-time high at $73,000, we are currently in a stalemate situation, with Bitcoin continuing to move within the range between that level and $62,000. In recent days, BTC has been recovering ground, and tonight it came close to a new ATH, reaching the price of $72,500.

Everything will be decided near the current resistance, between $72,000 and the all-time high. If Bitcoin were to break out forcefully, it could enter a price discovery phase; on the contrary, if it is rejected, it could return to the low range area, at $64,000.

Do you think we will see the first or second scenario? What consequences will the upcoming Halving, which will take place on the Bitcoin blockchain in about ten days, have?

My feeling is that over the next few months Bitcoin will break the 73K threshold to fly into price discovery. But this movement may not be immediate. In fact, in the past bull-runs, the price of Bitcoin did not increase immediately after the halving, but the effects of the halving only began to be seen a few months later.

Ethereum
Ethereum is not going through one of its best moments. Both in terms of price performance and due to a wave of criticism that has overwhelmed it in recent days. However, I have no doubts: the fundamentals of the blockchain created by Vitalik Buterin remain solid.

Its price is in the range between $3,200 and $3,600. ETH reached this zone after having explored, albeit for a few days, the $4,000 area, which has now become one of the main resistances limiting its price, together with the $3,500 area.

The ETH/BTC relative strength graph clearly highlights Ethereum's difficult moment. The crypto finds itself "hanging by a thread" against Bitcoin, on the support of $0.049 reached due to a bearish movement that began in the summer of 2023 which has not yet ended.
For the most loyal supporters of Ether this scenario could be, all things considered, positive.

Mainly because the price is not following, at least for now, the fast pace of blockchain technological developments. The question at this point is: is Ethereum currently undervalued? Could this be the right time to buy it? Or is it better to focus on other projects with higher earning potential?