I just reviewed the charts and it looks like we're seeing interesting signals in the altcoins. The ETH/BTC pair finally broke above that consolidation range that had been lasting for weeks, which is generally a good sign when Ethereum gains ground against Bitcoin. Michael van de Poppe has been commenting on this dynamic, and it makes sense: when ETH rises against BTC, altcoins tend to follow the movement.

The most striking thing is that altcoins/bitcoin just broke a massive bearish wedge pattern that started in 2022. According to analysts tracking these charts, like Michael van de Poppe, this breakout could mark a real trend reversal. If the strength holds, we might be in the final phase of an altcoin bull cycle, which would mean parabolic moves.

Now, here’s the odd part: historical market cap data for altcoins shows a signal reminiscent of the lows in 2014, 2018, and 2022, with RSI readings at 24 indicating market exhaustion. Ethereum recovered to $2.31K in the last 24 hours after institutional demand, triggering a widespread resurgence. But if you review the returns over the past 90 days, only six coins were in the green. The rest are deep in the red.

So the question is: have we really bottomed out or is this just a rebound? Michael van de Poppe and other analysts suggest yes, but the performance numbers tell a different story. Whales and institutions have been selling during the decline, and buying remains minimal. So technically, it looks bullish, but selling pressure persists. We’ll have to see if this week maintains the strength or if they turn red again.