Altcoin底部在？钥匙图标志着比特币的重大轮换

在过去的几天中，以太坊在价格行动方面一直表现优于比特币，每当Crypto中发生这种情况时，精英分析师就会开始谈论Altseason的回归。

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 measures the strength of the altcoin market against Bitcoin.

在过去的几天中，以太坊在价格行动方面一直表现优于比特币，每当Crypto中发生这种情况时，精英分析师就会开始谈论Altseason的回归。在这个空间中，没有什么可以保证的，但是昨晚MichaëlVande Poppe分享了一个有趣的图表，这可能是即将发生的事情的线索。该图显示了其他/BTC的比率，该比率衡量了Altcoin市场对比特币的强度。

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.

每周图表表明，AltCoins可能正在形成长期底部。根据Michaël的说法，这种模式显示出巨大的看涨分歧，尤其是在看RSI时。这意味着，当价格下跌或侧向移动时，动量指标开始上升。

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.

这通常表明趋势逆转可能接近。他还指出，这种模式与我们过去在Altcoins开始对比特币的情况下看到的模式非常相似。

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.

该图突出显示了一个绿色蓄能区，标记为新的底部过程。它看起来很像是在2021 Altcoin运行之前形成的。从掉落的楔形图案中也有一个突破，这增加了看涨的案例。

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.

价格行动已经扁平化，数量正在增加，下降趋势最终可能会失去实力。时间安排也与历史周期的行为相匹配，因为此前的Altcoins先前的市场底部发生了阶段的底部 - 在比特币减半集会完全启动的一年之前。

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.

Michaël不仅依靠技术。他还提到了宏观经济气候变化。利率可能开始下降，流动性可能会返回，全球市场情绪可能会发生变化。如果发生这种情况，诸如AltCoins之类的风险资产通常会首先受益。

When money flows out of Bitcoin, altcoins often become the next destination.

当资金从比特币中流出时，Altcoins通常会成为下一个目的地。

Still, we should be cautious. These early signs don’s 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.

不过，我们应该谨慎。这些早期的迹象总是会导致立即集会。底部需要一些时间才能形成，有时价格在任何重大突破之前就侧面几周甚至几个月。但是根据这张图表，最糟糕的情况可能在我们身后 - 至少就替代性能与比特币而言。

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.

如果其他/BTC的比率开始稳步上升，那将是一个明显的信号，即山寨币正在增强强度。在这种情况下，从比特币转移到Altcoins的旋转可能会加速，而期待已久的Altseason可能最终会成形。

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.

目前，该图表表明有些事情正在发生变化，对于一直在密切关注的交易者来说，可能是时候开始重新注意的时候了。