Th&#7883; tr&#432;&#7901;ng ti&#7873;n &#273;i&#7879;n t&#7917; &#273;ang b&#432;&#7899;c v&agrave;o giai &#273;o&#7841;n quy&#7871;t &#273;&#7883;nh khi c&#7863;p ETH/BTC gi&#7843;m xu&#7889;ng v&ugrave;ng h&#7895; tr&#7907; quan tr&#7885;ng 0.032&ndash;0.034, g&acirc;y ra cu&#7897;c tranh lu&#7853;n s&ocirc;i n&#7893;i gi&#7919;a c&aacute;c nh&agrave; ph&acirc;n t&iacute;ch v&#7873; th&#7901;i &#273;i&#7875;m Altseason &#273;&#432;&#7907;c mong &#273;&#7907;i t&#7915; l&acirc;u s&#7869; th&#7921;c s&#7921; b&#7855;t &#273;&#7847;u.
M&#7897;t s&#7889; ng&#432;&#7901;i cho r&#7857;ng Bitcoin ph&#7843;i &#273;&#7841;t m&#7913;c cao m&#7899;i &#273;&#7875; k&iacute;ch ho&#7841;t &#273;&#7907;t t&#259;ng gi&aacute; altcoin r&#7897;ng l&#7899;n, trong khi nh&#7919;ng ng&#432;&#7901;i kh&aacute;c tin r&#7857;ng Ethereum c&oacute; th&#7875; t&#7921; m&igrave;nh k&iacute;ch ho&#7841;t chu k&#7923; t&#259;ng gi&aacute; ti&#7871;p theo&mdash;ngay c&#7843; khi kh&ocirc;ng c&oacute; BTC d&#7851;n &#273;&#7847;u.
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-bitcoin-the-gatekeeper-of-the-altseason-signal">Bitcoin &ndash; Ng&#432;&#7901;i g&aacute;c c&#7893;ng c&#7911;a t&iacute;n hi&#7879;u m&ugrave;a altcoin?</h2>

Theo Benjamin Cowen, giai &#273;o&#7841;n hi&#7879;n t&#7841;i ch&#7881; l&agrave; &ldquo;l&#7901;i m&#7903; &#273;&#7847;u&rdquo; c&#7911;a s&#7921; m&#7903; r&#7897;ng th&#7883; tr&#432;&#7901;ng r&#7897;ng l&#7899;n h&#417;n. &Ocirc;ng cho r&#7857;ng hai &#273;i&#7873;u ki&#7879;n ch&iacute;nh ph&#7843;i &#273;&#7891;ng th&#7901;i x&#7843;y ra &#273;&#7875; Altseason di&#7877;n ra: Ethereum (ETH) c&#7847;n v&#432;&#7907;t qua m&#7913;c 5,000 USD v&agrave; duy tr&igrave; m&#7913;c &#273;&oacute; nh&#432; l&agrave; h&#7895; tr&#7907;.
&#272;i&#7873;u n&agrave;y ng&#7909; &yacute; r&#7857;ng <a href="https://beincrypto.com/learn/what-is-bitcoin/" target="_blank" rel="noreferrer noopener">Bitcoin</a> (BTC) c&#361;ng ph&#7843;i &#273;&#7841;t m&#7913;c cao m&#7899;i. Khi BTC leo l&ecirc;n m&#7913;c cao m&#7899;i, BTC Dominance (BTC.D) th&#432;&#7901;ng t&#259;ng&mdash;ph&#7843;n &aacute;nh m&ocirc; h&igrave;nh &#273;&atilde; th&#7845;y trong m&#7885;i chu k&#7923; th&#7883; tr&#432;&#7901;ng tr&#432;&#7899;c &#273;&oacute;.
<blockquote class="max-w-xl text-4.5 border-l-2 border-blue-600 pl-11 mb-9 select-all [&amp;_p]:!mb-0 wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
&ldquo;V&igrave; v&#7853;y, c&aacute;ch duy nh&#7845;t &#273;&#7875; c&oacute; m&#7897;t &lsquo;ALT Season&rsquo; l&agrave; BTC.D ph&#7843;i t&#259;ng l&ecirc;n tr&#432;&#7899;c khi BTC &#273;&#7841;t m&#7913;c cao m&#7899;i,&rdquo; Cowen <a href="https://x.com/intocryptoverse/status/1978112010916089896" target="_blank" rel="noreferrer noopener">k&#7871;t lu&#7853;n</a>.
</blockquote>

Th&ecirc;m v&agrave;o &#273;&oacute;, nh&agrave; ph&acirc;n t&iacute;ch AG <a href="https://x.com/GeoOnchain/status/1978210146892255735" target="_blank" rel="noreferrer noopener">l&#432;u &yacute;</a> r&#7857;ng &#273;&#7881;nh BTC Dominance kh&ocirc;ng nh&#7845;t thi&#7871;t tr&ugrave;ng v&#7899;i &#273;&#7881;nh gi&aacute; c&#7911;a Bitcoin. L&#7883;ch s&#7917; cho th&#7845;y BTC.D c&oacute; xu h&#432;&#7899;ng gi&#7843;m kho&#7843;ng 30% t&#7915; &#273;&#7881;nh c&#7911;a n&oacute; khi BTC &#273;&#7841;t ATH, v&agrave; m&#7897;t m&ocirc; h&igrave;nh t&#432;&#417;ng t&#7921; c&oacute; th&#7875; &#273;ang di&#7877;n ra b&acirc;y gi&#7901;&mdash;g&#7907;i &yacute; r&#7857;ng &#273;&#7881;nh cao th&aacute;ng 06/2025 kho&#7843;ng 65% BTC.D c&oacute; th&#7875; &#273;&atilde; &#273;&aacute;nh d&#7845;u &#273;&#7881;nh chu k&#7923;.
BeInCrypto <a href="https://vn.beincrypto.com/altcoin-season-at-risk-btc-dominance-climbs/" target="_blank" rel="noreferrer noopener">b&aacute;o c&aacute;o</a> r&#7857;ng BTC.D &#273;&atilde; t&#259;ng g&#7847;n 59%, trong khi Ch&#7881; s&#7889; Altcoin Season &#273;&atilde; gi&#7843;m xu&#7889;ng d&#432;&#7899;i 75. &#272;i&#7873;u n&agrave;y cho th&#7845;y altcoin &#273;ang ho&#7841;t &#273;&#7897;ng k&eacute;m hi&#7879;u qu&#7843; v&agrave; l&agrave;m d&#7845;y l&ecirc;n lo ng&#7841;i v&#7873; m&#7897;t m&ugrave;a altcoin b&#7883; tr&igrave; ho&atilde;n. M&#7897;t s&#7889; nh&agrave; ph&acirc;n t&iacute;ch <a href="https://vn.beincrypto.com/institutional-altcoin-season-shifts-to-crypto-stocks/" target="_blank" rel="noreferrer noopener">th&#7853;m ch&iacute; &#273;&atilde; l&#7853;p lu&#7853;n</a> r&#7857;ng &ldquo;m&ugrave;a altcoin&rdquo; hi&#7879;n t&#7841;i kh&ocirc;ng n&#7857;m &#7903; c&aacute;c token ti&#7873;n &#273;i&#7879;n t&#7917; m&agrave; l&agrave; &#7903; c&aacute;c c&#7893; phi&#7871;u ti&#7873;n &#273;i&#7879;n t&#7917; &#273;&#432;&#7907;c giao d&#7883;ch c&ocirc;ng khai.
Cowen <a href="https://x.com/intocryptoverse/status/1978163779998224540" target="_blank" rel="noreferrer noopener">kh&#7859;ng &#273;&#7883;nh</a> r&#7857;ng Altseason v&#7851;n ch&#432;a &#273;&#7871;n, v&igrave; ETH &#273;&atilde; b&#7883; t&#7915; ch&#7889;i trong l&#7847;n &#273;&#7847;u ti&ecirc;n c&#7889; g&#7855;ng l&#7845;y l&#7841;i m&#7913;c cao tr&#432;&#7899;c &#273;&oacute;. C&aacute;c c&#7863;p ALT/BTC &#273;&atilde; gi&#7843;m, trong khi ETH/BTC c&oacute; th&#7875; &#273;ang h&igrave;nh th&agrave;nh m&#7897;t &#273;&aacute;y cao h&#417;n. &#272;&#7897;ng th&aacute;i l&#7899;n ti&#7871;p theo cho altcoin s&#7869; ph&#7909; thu&#7897;c nhi&#7873;u v&agrave;o c&aacute;ch ETH ph&#7843;n &#7913;ng g&#7847;n m&#7913;c 5,000 USD.
Tuy nhi&ecirc;n, kh&ocirc;ng ph&#7843;i ai c&#361;ng &#273;&#7891;ng &yacute; r&#7857;ng BTC ph&#7843;i d&#7851;n &#273;&#7847;u. Nh&agrave; ph&acirc;n t&iacute;ch CryptoBullet <a href="https://x.com/CryptoBullet1/status/1978210592910663730" target="_blank" rel="noreferrer noopener">th&aacute;ch th&#7913;c</a> lu&#7853;n &#273;i&#7875;m c&#7911;a Cowen, tr&iacute;ch d&#7851;n d&#7919; li&#7879;u l&#7883;ch s&#7917; cho th&#7845;y ETH &#273;&atilde; t&#259;ng +88% v&agrave;o th&aacute;ng 12/2017 v&agrave; +79% v&agrave;o th&aacute;ng 04/2021 ngay sau khi BTC &#273;&#7841;t &#273;&#7881;nh&mdash;ch&#7913;ng minh r&#7857;ng Ethereum c&oacute; th&#7875; th&uacute;c &#273;&#7849;y &#273;&#7897;ng l&#7921;c th&#7883; tr&#432;&#7901;ng m&agrave; kh&ocirc;ng c&#7847;n d&#7921;a v&agrave;o s&#7921; t&#259;ng tr&#432;&#7903;ng th&ecirc;m c&#7911;a Bitcoin.
<img style="height:400px;width:640px;" decoding="async" alt="ETH price cycles in 2017 and 2021. Source: CryptoBullet" class="wp-image-761104 lazy" loading="lazy" src="https://assets.beincrypto.com/img/yVJqj6TUq5CotzG_UzPDjGgJNmQ=/smart/29ddf2c550d943e79b412b26af37afa9">Chu k&#7923; gi&aacute; ETH v&agrave;o n&#259;m 2017 v&agrave; 2021. Ngu&#7891;n: <a href="https://x.com/CryptoBullet1/status/1978210592910663730/photo/1" target="_blank" rel="noreferrer noopener">CryptoBullet</a>

<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-eth-btc-at-critical-support">ETH/BTC t&#7841;i ng&#432;&#7905;ng h&#7895; tr&#7907; quan tr&#7885;ng</h2>

Ph&#7843;n &aacute;nh quan &#273;i&#7875;m th&#7853;n tr&#7885;ng c&#7911;a Cowen, nh&agrave; ph&acirc;n t&iacute;ch Ted nh&#7845;n m&#7841;nh r&#7857;ng th&#7883; tr&#432;&#7901;ng ch&#432;a ch&iacute;nh th&#7913;c b&#432;&#7899;c v&agrave;o Altseason. D&#7919; li&#7879;u l&#7883;ch s&#7917; cho th&#7845;y v&#7889;n h&oacute;a th&#7883; tr&#432;&#7901;ng altcoin (kh&ocirc;ng bao g&#7891;m stablecoin) v&#7851;n th&#7845;p h&#417;n 20% so v&#7899;i m&#7913;c cao nh&#7845;t m&#7885;i th&#7901;i &#273;&#7841;i, cho th&#7845;y BTC v&agrave; ETH ph&#7843;i th&#7875; hi&#7879;n &#273;&#7897;ng l&#7921;c m&#7841;nh m&#7869; h&#417;n tr&#432;&#7899;c khi altcoin c&oacute; th&#7875; theo sau.
<img style="height:400px;width:640px;" decoding="async" alt="Altcoin market cap. Source: Ted" class="wp-image-761105 lazy" loading="lazy" src="https://assets.beincrypto.com/img/a3EgalzrzGKfYWwH4vo90XQRMsw=/smart/22c358a941924389877a91b513146a37">V&#7889;n h&oacute;a th&#7883; tr&#432;&#7901;ng altcoin. Ngu&#7891;n: <a href="https://x.com/TedPillows/status/1977763509271244976/photo/1" target="_blank" rel="noreferrer noopener">Ted</a>

Ted c&#361;ng ch&#7881; ra m&#7897;t s&#7889; d&#7845;u hi&#7879;u t&iacute;ch c&#7921;c. C&#7863;p ETH/BTC hi&#7879;n &#273;ang ki&#7875;m tra v&ugrave;ng h&#7895; tr&#7907; 0.032&ndash;0.034, m&#7897;t m&#7913;c &#273;&#7897; quan tr&#7885;ng trong l&#7883;ch s&#7917; &#273;&atilde; k&iacute;ch ho&#7841;t c&aacute;c &#273;&#7907;t ph&#7909;c h&#7891;i m&#7841;nh m&#7869; trong c&aacute;c chu k&#7923; tr&#432;&#7899;c &#273;&oacute;.
<img style="height:400px;width:640px;" decoding="async" alt="ETH/BTC chart. Source: Ted" class="wp-image-761106 lazy" loading="lazy" src="https://assets.beincrypto.com/img/hL-TjDEVCRv7qmTdOI8Fwsrcc7k=/smart/83ae85082a73405280720caec2b04d79">Bi&#7875;u &#273;&#7891; ETH/BTC. Ngu&#7891;n: <a href="https://x.com/TedPillows/status/1978192586277044344/photo/1" target="_blank" rel="noreferrer noopener">Ted</a>

M&#7897;t y&#7871;u t&#7889; v&#297; m&ocirc; &#273;&aacute;ng ch&uacute; &yacute; kh&aacute;c l&agrave; t&iacute;n hi&#7879;u t&#7915; C&#7909;c D&#7921; tr&#7919; Li&ecirc;n bang M&#7929;. G&#7907;i &yacute; c&#7911;a Fed v&#7873; kh&#7843; n&#259;ng k&#7871;t th&uacute;c ch&#432;&#417;ng tr&igrave;nh Th&#7855;t ch&#7863;t &#272;&#7883;nh l&#432;&#7907;ng (QT) c&oacute; th&#7875; mang l&#7841;i s&#7921; l&#7841;c quan cho c&aacute;c t&agrave;i s&#7843;n r&#7911;i ro, &#273;&#7863;c bi&#7879;t l&agrave; altcoin, v&#7889;n &#273;&#432;&#7907;c h&#432;&#7903;ng l&#7907;i t&#7915; &#273;i&#7873;u ki&#7879;n thanh kho&#7843;n &#273;&#432;&#7907;c c&#7843;i thi&#7879;n.
Trong khi &#273;&oacute;, nh&agrave; ph&acirc;n t&iacute;ch FANG &#273;ang c&oacute; quan &#273;i&#7875;m l&#7841;c quan h&#417;n. &Ocirc;ng <a href="https://x.com/cryptorangutang/status/1977893981745733737" target="_blank" rel="noreferrer noopener">l&#432;u &yacute;</a> r&#7857;ng &#273;&acirc;y l&agrave; xu h&#432;&#7899;ng t&#259;ng ETH/BTC &#273;&#7847;u ti&ecirc;n trong b&#7889;n n&#259;m v&agrave; kh&#7859;ng &#273;&#7883;nh r&#7857;ng &ldquo;kh&ocirc;ng th&#7875; &#273;&#417;n gi&#7843;n b&#7887; qua&rdquo; m&#7897;t thi&#7871;t l&#7853;p nh&#432; v&#7853;y. &Ocirc;ng tin r&#7857;ng ETH tr&ecirc;n 5,000 USD ch&#7881; l&agrave; v&#7845;n &#273;&#7873; th&#7901;i gian.
Cu&#7897;c tranh lu&#7853;n v&#7873; th&#7901;i &#273;i&#7875;m t&iacute;n hi&#7879;u Altseason ti&#7871;p theo ti&#7871;p t&#7909;c chia r&#7869; c&aacute;c nh&agrave; ph&acirc;n t&iacute;ch. Tuy nhi&ecirc;n, b&#7845;t ch&#7845;p nh&#7919;ng quan &#273;i&#7875;m kh&aacute;c nhau, h&#7847;u h&#7871;t &#273;&#7873;u &#273;&#7891;ng &yacute; r&#7857;ng ETH/BTC &#273;ang l&#417; l&#7917;ng quanh m&#7897;t v&ugrave;ng quy&#7871;t &#273;&#7883;nh c&oacute; th&#7875; x&aacute;c &#273;&#7883;nh h&#432;&#7899;ng &#273;i c&#7911;a to&agrave;n b&#7897; th&#7883; tr&#432;&#7901;ng ti&#7873;n &#273;i&#7879;n t&#7917; trong nh&#7919;ng th&aacute;ng t&#7899;i.

Tín hiệu Altseason: ETH/BTC tiến gần vùng hỗ trợ quan trọng 0.032

Th&#7883; tr&#432;&#7901;ng ti&#7873;n &#273;i&#7879;n t&#7917; &#273;ang b&#432;&#7899;c v&agrave;o giai &#273;o&#7841;n quy&#7871;t &#273;&#7883;nh khi c&#7863;p ETH/BTC gi&#7843;m xu&#7889;ng v&ugrave;ng h&#7895; tr&#7907; quan tr&#7885;ng 0.032&ndash;0.034, g&acirc;y ra cu&#7897;c tranh lu&#7853;n s&ocirc;i n&#7893;i gi&#7919;a c&aacute;c nh&agrave; ph&acirc;n t&iacute;ch v&#7873; th&#7901;i &#273;i&#7875;m Altseason &#273;&#432;&#7907;c mong &#273;&#7907;i t&#7915; l&acirc;u s&#7869; th&#7921;c s&#7921; b&#7855;t &#273;&#7847;u.
M&#7897;t s&#7889; ng&#432;&#7901;i cho r&#7857;ng Bitcoin ph&#7843;i &#273;&#7841;t m&#7913;c cao m&#7899;i &#273;&#7875; k&iacute;ch ho&#7841;t &#273;&#7907;t t&#259;ng gi&aacute; altcoin r&#7897;ng l&#7899;n, trong khi nh&#7919;ng ng&#432;&#7901;i kh&aacute;c tin r&#7857;ng Ethereum c&oacute; th&#7875; t&#7921; m&igrave;nh k&iacute;ch ho&#7841;t chu k&#7923; t&#259;ng gi&aacute; ti&#7871;p theo&mdash;ngay c&#7843; khi kh&ocirc;ng c&oacute; BTC d&#7851;n &#273;&#7847;u.
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-bitcoin-the-gatekeeper-of-the-altseason-signal">Bitcoin &ndash; Ng&#432;&#7901;i g&aacute;c c&#7893;ng c&#7911;a t&iacute;n hi&#7879;u m&ugrave;a altcoin?</h2>

Theo Benjamin Cowen, giai &#273;o&#7841;n hi&#7879;n t&#7841;i ch&#7881; l&agrave; &ldquo;l&#7901;i m&#7903; &#273;&#7847;u&rdquo; c&#7911;a s&#7921; m&#7903; r&#7897;ng th&#7883; tr&#432;&#7901;ng r&#7897;ng l&#7899;n h&#417;n. &Ocirc;ng cho r&#7857;ng hai &#273;i&#7873;u ki&#7879;n ch&iacute;nh ph&#7843;i &#273;&#7891;ng th&#7901;i x&#7843;y ra &#273;&#7875; Altseason di&#7877;n ra: Ethereum (ETH) c&#7847;n v&#432;&#7907;t qua m&#7913;c 5,000 USD v&agrave; duy tr&igrave; m&#7913;c &#273;&oacute; nh&#432; l&agrave; h&#7895; tr&#7907;.
&#272;i&#7873;u n&agrave;y ng&#7909; &yacute; r&#7857;ng <a href="https://beincrypto.com/learn/what-is-bitcoin/" target="_blank" rel="noreferrer noopener">Bitcoin</a> (BTC) c&#361;ng ph&#7843;i &#273;&#7841;t m&#7913;c cao m&#7899;i. Khi BTC leo l&ecirc;n m&#7913;c cao m&#7899;i, BTC Dominance (BTC.D) th&#432;&#7901;ng t&#259;ng&mdash;ph&#7843;n &aacute;nh m&ocirc; h&igrave;nh &#273;&atilde; th&#7845;y trong m&#7885;i chu k&#7923; th&#7883; tr&#432;&#7901;ng tr&#432;&#7899;c &#273;&oacute;.
<blockquote class="max-w-xl text-4.5 border-l-2 border-blue-600 pl-11 mb-9 select-all [&amp;_p]:!mb-0 wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
&ldquo;V&igrave; v&#7853;y, c&aacute;ch duy nh&#7845;t &#273;&#7875; c&oacute; m&#7897;t &lsquo;ALT Season&rsquo; l&agrave; BTC.D ph&#7843;i t&#259;ng l&ecirc;n tr&#432;&#7899;c khi BTC &#273;&#7841;t m&#7913;c cao m&#7899;i,&rdquo; Cowen <a href="https://x.com/intocryptoverse/status/1978112010916089896" target="_blank" rel="noreferrer noopener">k&#7871;t lu&#7853;n</a>.
</blockquote>

Th&ecirc;m v&agrave;o &#273;&oacute;, nh&agrave; ph&acirc;n t&iacute;ch AG <a href="https://x.com/GeoOnchain/status/1978210146892255735" target="_blank" rel="noreferrer noopener">l&#432;u &yacute;</a> r&#7857;ng &#273;&#7881;nh BTC Dominance kh&ocirc;ng nh&#7845;t thi&#7871;t tr&ugrave;ng v&#7899;i &#273;&#7881;nh gi&aacute; c&#7911;a Bitcoin. L&#7883;ch s&#7917; cho th&#7845;y BTC.D c&oacute; xu h&#432;&#7899;ng gi&#7843;m kho&#7843;ng 30% t&#7915; &#273;&#7881;nh c&#7911;a n&oacute; khi BTC &#273;&#7841;t ATH, v&agrave; m&#7897;t m&ocirc; h&igrave;nh t&#432;&#417;ng t&#7921; c&oacute; th&#7875; &#273;ang di&#7877;n ra b&acirc;y gi&#7901;&mdash;g&#7907;i &yacute; r&#7857;ng &#273;&#7881;nh cao th&aacute;ng 06/2025 kho&#7843;ng 65% BTC.D c&oacute; th&#7875; &#273;&atilde; &#273;&aacute;nh d&#7845;u &#273;&#7881;nh chu k&#7923;.
BeInCrypto <a href="https://vn.beincrypto.com/altcoin-season-at-risk-btc-dominance-climbs/" target="_blank" rel="noreferrer noopener">b&aacute;o c&aacute;o</a> r&#7857;ng BTC.D &#273;&atilde; t&#259;ng g&#7847;n 59%, trong khi Ch&#7881; s&#7889; Altcoin Season &#273;&atilde; gi&#7843;m xu&#7889;ng d&#432;&#7899;i 75. &#272;i&#7873;u n&agrave;y cho th&#7845;y altcoin &#273;ang ho&#7841;t &#273;&#7897;ng k&eacute;m hi&#7879;u qu&#7843; v&agrave; l&agrave;m d&#7845;y l&ecirc;n lo ng&#7841;i v&#7873; m&#7897;t m&ugrave;a altcoin b&#7883; tr&igrave; ho&atilde;n. M&#7897;t s&#7889; nh&agrave; ph&acirc;n t&iacute;ch <a href="https://vn.beincrypto.com/institutional-altcoin-season-shifts-to-crypto-stocks/" target="_blank" rel="noreferrer noopener">th&#7853;m ch&iacute; &#273;&atilde; l&#7853;p lu&#7853;n</a> r&#7857;ng &ldquo;m&ugrave;a altcoin&rdquo; hi&#7879;n t&#7841;i kh&ocirc;ng n&#7857;m &#7903; c&aacute;c token ti&#7873;n &#273;i&#7879;n t&#7917; m&agrave; l&agrave; &#7903; c&aacute;c c&#7893; phi&#7871;u ti&#7873;n &#273;i&#7879;n t&#7917; &#273;&#432;&#7907;c giao d&#7883;ch c&ocirc;ng khai.
Cowen <a href="https://x.com/intocryptoverse/status/1978163779998224540" target="_blank" rel="noreferrer noopener">kh&#7859;ng &#273;&#7883;nh</a> r&#7857;ng Altseason v&#7851;n ch&#432;a &#273;&#7871;n, v&igrave; ETH &#273;&atilde; b&#7883; t&#7915; ch&#7889;i trong l&#7847;n &#273;&#7847;u ti&ecirc;n c&#7889; g&#7855;ng l&#7845;y l&#7841;i m&#7913;c cao tr&#432;&#7899;c &#273;&oacute;. C&aacute;c c&#7863;p ALT/BTC &#273;&atilde; gi&#7843;m, trong khi ETH/BTC c&oacute; th&#7875; &#273;ang h&igrave;nh th&agrave;nh m&#7897;t &#273;&aacute;y cao h&#417;n. &#272;&#7897;ng th&aacute;i l&#7899;n ti&#7871;p theo cho altcoin s&#7869; ph&#7909; thu&#7897;c nhi&#7873;u v&agrave;o c&aacute;ch ETH ph&#7843;n &#7913;ng g&#7847;n m&#7913;c 5,000 USD.
Tuy nhi&ecirc;n, kh&ocirc;ng ph&#7843;i ai c&#361;ng &#273;&#7891;ng &yacute; r&#7857;ng BTC ph&#7843;i d&#7851;n &#273;&#7847;u. Nh&agrave; ph&acirc;n t&iacute;ch CryptoBullet <a href="https://x.com/CryptoBullet1/status/1978210592910663730" target="_blank" rel="noreferrer noopener">th&aacute;ch th&#7913;c</a> lu&#7853;n &#273;i&#7875;m c&#7911;a Cowen, tr&iacute;ch d&#7851;n d&#7919; li&#7879;u l&#7883;ch s&#7917; cho th&#7845;y ETH &#273;&atilde; t&#259;ng +88% v&agrave;o th&aacute;ng 12/2017 v&agrave; +79% v&agrave;o th&aacute;ng 04/2021 ngay sau khi BTC &#273;&#7841;t &#273;&#7881;nh&mdash;ch&#7913;ng minh r&#7857;ng Ethereum c&oacute; th&#7875; th&uacute;c &#273;&#7849;y &#273;&#7897;ng l&#7921;c th&#7883; tr&#432;&#7901;ng m&agrave; kh&ocirc;ng c&#7847;n d&#7921;a v&agrave;o s&#7921; t&#259;ng tr&#432;&#7903;ng th&ecirc;m c&#7911;a Bitcoin.
<img style="height:400px;width:640px;"decoding="async" alt="ETH price cycles in 2017 and 2021. Source: CryptoBullet" class="wp-image-761104 lazy" loading="lazy" src="https://assets.beincrypto.com/img/yVJqj6TUq5CotzG_UzPDjGgJNmQ=/smart/29ddf2c550d943e79b412b26af37afa9">Chu k&#7923; gi&aacute; ETH v&agrave;o n&#259;m 2017 v&agrave; 2021. Ngu&#7891;n: <a href="https://x.com/CryptoBullet1/status/1978210592910663730/photo/1" target="_blank" rel="noreferrer noopener">CryptoBullet</a>

<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-eth-btc-at-critical-support">ETH/BTC t&#7841;i ng&#432;&#7905;ng h&#7895; tr&#7907; quan tr&#7885;ng</h2>

Ph&#7843;n &aacute;nh quan &#273;i&#7875;m th&#7853;n tr&#7885;ng c&#7911;a Cowen, nh&agrave; ph&acirc;n t&iacute;ch Ted nh&#7845;n m&#7841;nh r&#7857;ng th&#7883; tr&#432;&#7901;ng ch&#432;a ch&iacute;nh th&#7913;c b&#432;&#7899;c v&agrave;o Altseason. D&#7919; li&#7879;u l&#7883;ch s&#7917; cho th&#7845;y v&#7889;n h&oacute;a th&#7883; tr&#432;&#7901;ng altcoin (kh&ocirc;ng bao g&#7891;m stablecoin) v&#7851;n th&#7845;p h&#417;n 20% so v&#7899;i m&#7913;c cao nh&#7845;t m&#7885;i th&#7901;i &#273;&#7841;i, cho th&#7845;y BTC v&agrave; ETH ph&#7843;i th&#7875; hi&#7879;n &#273;&#7897;ng l&#7921;c m&#7841;nh m&#7869; h&#417;n tr&#432;&#7899;c khi altcoin c&oacute; th&#7875; theo sau.
<img style="height:400px;width:640px;"decoding="async" alt="Altcoin market cap. Source: Ted" class="wp-image-761105 lazy" loading="lazy" src="https://assets.beincrypto.com/img/a3EgalzrzGKfYWwH4vo90XQRMsw=/smart/22c358a941924389877a91b513146a37">V&#7889;n h&oacute;a th&#7883; tr&#432;&#7901;ng altcoin. Ngu&#7891;n: <a href="https://x.com/TedPillows/status/1977763509271244976/photo/1" target="_blank" rel="noreferrer noopener">Ted</a>

Ted c&#361;ng ch&#7881; ra m&#7897;t s&#7889; d&#7845;u hi&#7879;u t&iacute;ch c&#7921;c. C&#7863;p ETH/BTC hi&#7879;n &#273;ang ki&#7875;m tra v&ugrave;ng h&#7895; tr&#7907; 0.032&ndash;0.034, m&#7897;t m&#7913;c &#273;&#7897; quan tr&#7885;ng trong l&#7883;ch s&#7917; &#273;&atilde; k&iacute;ch ho&#7841;t c&aacute;c &#273;&#7907;t ph&#7909;c h&#7891;i m&#7841;nh m&#7869; trong c&aacute;c chu k&#7923; tr&#432;&#7899;c &#273;&oacute;.
<img style="height:400px;width:640px;"decoding="async" alt="ETH/BTC chart. Source: Ted" class="wp-image-761106 lazy" loading="lazy" src="https://assets.beincrypto.com/img/hL-TjDEVCRv7qmTdOI8Fwsrcc7k=/smart/83ae85082a73405280720caec2b04d79">Bi&#7875;u &#273;&#7891; ETH/BTC. Ngu&#7891;n: <a href="https://x.com/TedPillows/status/1978192586277044344/photo/1" target="_blank" rel="noreferrer noopener">Ted</a>

M&#7897;t y&#7871;u t&#7889; v&#297; m&ocirc; &#273;&aacute;ng ch&uacute; &yacute; kh&aacute;c l&agrave; t&iacute;n hi&#7879;u t&#7915; C&#7909;c D&#7921; tr&#7919; Li&ecirc;n bang M&#7929;. G&#7907;i &yacute; c&#7911;a Fed v&#7873; kh&#7843; n&#259;ng k&#7871;t th&uacute;c ch&#432;&#417;ng tr&igrave;nh Th&#7855;t ch&#7863;t &#272;&#7883;nh l&#432;&#7907;ng (QT) c&oacute; th&#7875; mang l&#7841;i s&#7921; l&#7841;c quan cho c&aacute;c t&agrave;i s&#7843;n r&#7911;i ro, &#273;&#7863;c bi&#7879;t l&agrave; altcoin, v&#7889;n &#273;&#432;&#7907;c h&#432;&#7903;ng l&#7907;i t&#7915; &#273;i&#7873;u ki&#7879;n thanh kho&#7843;n &#273;&#432;&#7907;c c&#7843;i thi&#7879;n.
Trong khi &#273;&oacute;, nh&agrave; ph&acirc;n t&iacute;ch FANG &#273;ang c&oacute; quan &#273;i&#7875;m l&#7841;c quan h&#417;n. &Ocirc;ng <a href="https://x.com/cryptorangutang/status/1977893981745733737" target="_blank" rel="noreferrer noopener">l&#432;u &yacute;</a> r&#7857;ng &#273;&acirc;y l&agrave; xu h&#432;&#7899;ng t&#259;ng ETH/BTC &#273;&#7847;u ti&ecirc;n trong b&#7889;n n&#259;m v&agrave; kh&#7859;ng &#273;&#7883;nh r&#7857;ng &ldquo;kh&ocirc;ng th&#7875; &#273;&#417;n gi&#7843;n b&#7887; qua&rdquo; m&#7897;t thi&#7871;t l&#7853;p nh&#432; v&#7853;y. &Ocirc;ng tin r&#7857;ng ETH tr&ecirc;n 5,000 USD ch&#7881; l&agrave; v&#7845;n &#273;&#7873; th&#7901;i gian.
Cu&#7897;c tranh lu&#7853;n v&#7873; th&#7901;i &#273;i&#7875;m t&iacute;n hi&#7879;u Altseason ti&#7871;p theo ti&#7871;p t&#7909;c chia r&#7869; c&aacute;c nh&agrave; ph&acirc;n t&iacute;ch. Tuy nhi&ecirc;n, b&#7845;t ch&#7845;p nh&#7919;ng quan &#273;i&#7875;m kh&aacute;c nhau, h&#7847;u h&#7871;t &#273;&#7873;u &#273;&#7891;ng &yacute; r&#7857;ng ETH/BTC &#273;ang l&#417; l&#7917;ng quanh m&#7897;t v&ugrave;ng quy&#7871;t &#273;&#7883;nh c&oacute; th&#7875; x&aacute;c &#273;&#7883;nh h&#432;&#7899;ng &#273;i c&#7911;a to&agrave;n b&#7897; th&#7883; tr&#432;&#7901;ng ti&#7873;n &#273;i&#7879;n t&#7917; trong nh&#7919;ng th&aacute;ng t&#7899;i.