The video analyzes the ETHBTC valuation, setting the thesis that the altcoin market, in general, is still bleeding to bitcoin, although altcoin rotation could last a few more weeks. The collective altcoin market may go lower on its Bitcoin pairs. However, individual altcoins can bottom against Bitcoin at any point in the cycle, citing Solana and XRP as examples. The presenter suggests the Ethereum valuation has bottomed against Bitcoin. He references the Ethereum Logarithmic Regression Rainbow, noting that ETHUSD has gone home, and the ETH dominance has reached a level seen in the last cycle when it bottomed. Further, it is believed Bitcoin interest might lead to money flowing back into Bitcoin, and that will likely affect the coin market. The Ethereum Bitcoin market cap is reviewed where it finds the best is now at 0.0319, where it may hit resistance around 0.034, 0.0448 and a 0.5 Fibonacci level of 0.053, which all have precedence as past levels of resistance and support. It is thought the collective market will have an extreme of around 0.25.