Ben Cowen: Ethereum Season Is Here | How Far Can ETH Go?

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Tech News, News, Technology

4.8 • 1.1K Ratings

🗓️ 4 August 2025

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

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Summary

Ethereum has flipped the switch. After years of underperformance, ETH is showing decisive momentum, not just in USD terms, but against Bitcoin and the broader altcoin market. In this episode, Ben Cowen returns to break down what’s changed, why ETH may be on a path to new all-time highs, and what its dominance means for the rest of the cycle. We explore ETH’s regression bounce, ETHBTC targets, the fading strength of altcoins, and how market narratives tend to follow price, not the other way around. Ben also lays out his roadmap for the coming months and shares why this phase might be “Ethereum season,” not just in name, but in structure. For anyone navigating crypto in 2024–2025, this is essential context. ------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY2 https://bankless.cc/spotify-premium ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle ------ TIMESTAMPS 0:00 Intro 3:40 ETH Coming Home 14:13 Why ETH Outperforms Now 18:51 What ETH Season Actually Looks Like 24:48 ETHBTC Targets & USD Projections 29:25 Price First, Narrative Later 32:27 Bitcoin Risks & the Flippening Hypothetical 36:17 Ben’s Market Timeline 43:36 ETH Treasury Narrative Flip 48:11 Where’s the Alt Season? ------ RESOURCES Ben Cowen https://x.com/intocryptoverse Ben’s Channel https://www.youtube.com/@intothecryptoverse Into The Cryptoverse https://intothecryptoverse.com/ ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

Transcript

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0:00.0	If alts are down 44% against Ethereum since April,
0:03.5	what else do you call it other than Ethereum season, right?
0:06.0	I mean, basically everything in crypto, including Bitcoin,
0:09.7	since April has been bleeding to Ethereum.
0:12.0	But the current time, Ethereum's giving better risk-adjusted returns than altcoins.
0:16.3	Because by being an Ethereum, it's basically giving you the upside that an alt-coin might get, but it's also protecting you from the downside risk.
0:27.6	Bankless Nation, we got Ben Cowan back on the podcast today.
0:30.5	We had him on a year ago to talk about the downtrend of ETHBTC.
0:35.2	Six months later, also six months ago, we had Ben back on to talk about
0:39.2	how ETHBT was about to go home. And then today, I think we are here to complete that journey
0:44.4	to talk about the rise of ETHBTC and where Ben thinks it's going after it went home. Ben,
0:51.4	welcome back to Banquist. Thanks, John me here. It's been a pretty crazy journey for Ethereum over the last few years. Yeah, okay, so you are famous for calling for Eith to go home. You said it for years. First, Eith was going home. And then I think you'll agree. Ethan went home, which I think now begs the question. Now that ETH has gone home, if you do think that it has
1:11.0	completed his journey home, where is Eth going now that it's gone home?
1:14.5	I mean, so my base case now is that it's on its journey to all-time highs. I feel satisfied, right,
1:20.4	with it having gone home. That was kind of why I was always kind of like against the idea of
1:26.0	Ethereum breaking the new highs in prior years.
1:29.9	And one of the things, you know, we have to obviously talk about, right, is the,
1:34.2	because ETH went home, it allowed, in my opinion, it allowed ETH Bitcoin to bottom, right?
1:40.8	And that's like, that's the bigger story, right?
1:42.8	Because, I mean, ETHUSD going up is great, right? We all love to see ETHUSD go up, but if it's lagging
1:49.6	Bitcoin, then that's like a problem. And it kind of signifies that it doesn't truly have
1:54.8	momentum behind it if it's just lagging Bitcoin. But if ETH Bitcoin is going up while ETH is going up, then it shows you
	...

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