In the past few days, Ethereum has been outperforming Bitcoin in terms of price action, and whenever this happens in crypto, elite analysts start talking about the return of altseason. Nothing is ever guaranteed in this space, but Michaël van de Poppe shared an interesting chart last night that could be a clue of what’s to come. The chart shows the OTHERS/BTC ratio, which tracks the strength of the altcoin market against Bitcoin.
The weekly chart suggests that altcoins might be in the process of forming a long-term bottom. According to Michaël, this pattern is showing massive bullish divergences, especially when looking at the RSI. That means while prices have been falling or moving sideways, momentum indicators are starting to rise.
This is often a signal that a trend reversal could be near. He also pointed out that this pattern is very similar to what we saw in past cycles before altcoins started gaining against Bitcoin.
The chart highlights a green accumulation zone, labeled as a new bottoming process. It looks a lot like the one that formed before the 2021 altcoin run. There’s also a breakout from a falling wedge pattern, which adds to the bullish case.
The price action has flattened out, volume is picking up, and the downtrend may finally be losing strength. The timing also matches historical cycle behavior, as previous market bottoms for altcoins happened right around this phase – one year before the Bitcoin halving rally kicks in fully.
Michaël didn’t just rely on technicals. He also mentioned the changing macroeconomic climate. Interest rates may start dropping, liquidity could return, and global market sentiment might shift. If that happens, risk-on assets like altcoins typically benefit first.
When money flows out of Bitcoin, altcoins often become the next destination.
Still, we should be cautious. These early signs don’t always lead to immediate rallies. Bottoms take time to form, and sometimes price goes sideways for weeks or even months before any major breakout. But according to this chart, the worst may be behind us – at least in terms of altcoin performance versus Bitcoin.
If the OTHERS/BTC ratio starts to climb steadily, that would be a clear signal that altcoins are gaining strength. In that case, a rotation from Bitcoin into altcoins could accelerate, and the long-awaited altseason might finally take shape.
For now, the chart suggests that something is shifting, and for traders who’ve been watching closely, it might be time to start paying attention again.
Read also: Analyst Predicts ADA Price Is ‘Ready to Breakout’ – Here’s What Cardano Chart Is Saying
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