Quick bottom signals for altcoins: the season may be approaching, but selling pressure has not completely disappeared yet.

Yesterday I observed something interesting in the charts. ETH recovered above $2,310 in the last 24 hours after Jane Street's action, and this created a domino effect in the altcoin market. It seemed like we finally had a bottom signal. But here’s the question: the actual numbers show that there is still a lot of downward pressure behind this movement.

Let's look at the technical data. The ratio between altcoin market capitalization and the total crypto market capitalization is signaling something we haven't seen since 2014, 2018, and 2022. The RSI in all these periods hit 24, indicating extreme market exhaustion. Historically, the bottoms of 2014 and 2018 produced the biggest altcoin seasons. The 2022 bottom was more modest, but still yielded results. If the pattern repeats, we are looking at something potentially significant.

But here’s the part that confuses most people. The ETH/BTC chart shows Ethereum gaining strength against Bitcoin. Weeks of consolidation below the 0.03250 BTC zone were broken upward. That’s positive. When you expand the analysis to altcoins against Bitcoin, you see something even more relevant: a massive descending wedge pattern that started in 2022 was finally broken. According to some analysts, this descending wedge breakout is generating an initial positive response. Theoretically, if altcoin strength holds, the move could even become parabolic.

The problem? Look at the actual performance over the last 90 days. Among the top 50 assets, only six were in the green. Four of them were altcoins: Canton Network with 104%, Sky Protocol with 37%, Rain Protocol with 31.7%, and MemeCore with just 4.4%. The rest are deep in the red. This is not normal for a true bottom.

This week's resurgence was not enough to erase these negative numbers. Whales continue selling. Institutions like BlackRock are also divesting during this downturn. The entire market remains fearful, so buying activity remains minimal.

Therefore, we have a paradoxical situation: technically, the charts show bottom signals and a descending wedge pattern breakout that lasted for years. But the actual returns indicate that traders are still selling their tokens. The altcoin season may be shaping up, but selling pressure still persists strongly. It’s not time to blindly trust a single signal.