According to crypto analyst Ali Martinez, Ethereum (ETH) may have completed the clearing phase of this market cycle. The "realized dormancy flow" of ETH has fallen below 1 million, suggesting a potential macro bottom area and indicating that holders are willing to hold long-term. Although the price has dipped to $1,557, some analysts believe ETH is poised to test $1,835. Meanwhile, the market capitalization ratio of BTC (BTC.D) is nearing a high, which could lead to a short-term rebound in alts. Martinez warns that if selling pressure continues, ETH could dip to $1,200. (newsbtc)