**John Bollinger Identifies Bullish “W” Bottoms in Ethereum and Solana, But Not Bitcoin**

Veteran technical analyst John Bollinger, creator of the popular Bollinger Bands indicator, has highlighted early signs of potential bullish reversals in Ethereum (ETH) and Solana (SOL) charts, while Bitcoin (BTC) continues to trade sideways without similar indications.

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### Ethereum and Solana Show Potential “W” Bottom Patterns

Bollinger recently posted on X (formerly Twitter) that both Ethereum (ETH/USD) and Solana (SOL/USD) charts exhibit signs of forming “W” bottom patterns—a technical formation where the price declines twice, with the second low typically higher than the first. This pattern often signals that selling pressure is weakening and buying interest may be returning, possibly leading to a price recovery.

He noted:
“Potential ‘W’ bottoms in Bollinger Band terms in THUSD and OLUSD, but not in TCUSD. Gonna be time to pay attention soon I think.”

This contrasts with Bitcoin’s BTC/USD chart, which currently lacks this setup, indicating continued consolidation rather than a confirmed bottom or trend reversal.

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### Bitcoin Remains Flat Without Reversal Signs

Unlike ETH and SOL, Bitcoin’s price action remains sluggish and primarily sideways. Bollinger and other analysts observe that BTC is stuck in a consolidation phase, hovering around key support zones without strong reactions to recent market fluctuations.

This stagnation is leading traders and institutional investors to explore alternative cryptocurrencies, seeking better growth opportunities amid Bitcoin’s lackluster momentum.

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### Ethereum Outperforms Bitcoin – ETH/BTC Ratio Surges

The ETH/BTC ratio has risen by over 7% during the past week and increased by 1% in the last 24 hours alone, signaling Ethereum’s strengthening relative to Bitcoin.

In fact, Ethereum’s price climbed 1.52% to $3,891, while Solana advanced 2.15% to $186 over the same period.

Crypto analytics firm TGW Capital echoed Bollinger’s insights, referencing his accurate Bitcoin call from April 2025 and suggesting that Ethereum and Solana might follow a similar positive trajectory if current technical patterns persist.

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### Institutional Shift: BlackRock Adjusts Crypto Holdings

Further supporting this altcoin rotation narrative, reports indicate that BlackRock has decreased its Bitcoin holdings in the recent market downturn while increasing exposure to Ethereum.

Such moves by a major institutional player highlight a growing preference for altcoins amid Bitcoin’s extended consolidation, potentially attracting more capital to Ethereum and Solana.

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### Early Signs of an “Alt Season” Emerging

Market analysts are closely monitoring these developments for an onset of “alt season,” a market phase where altcoins significantly outperform Bitcoin.

A rising ETH/BTC ratio is often among the first indicators of this shift, and renewed buying interest in Solana strengthens the case for a broader rotation toward altcoins.

If Ethereum and Solana confirm their “W” bottom formations in upcoming sessions, it could mark the beginning of a sustained recovery for these key altcoins, while Bitcoin may continue to linger in its current sideways pattern.

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**In summary,** while Bitcoin remains range-bound with no clear reversal pattern, Ethereum and Solana are showing promising technical signals that may attract increased buying interest and institutional support in the short term. Traders and investors are advised to watch the development of these “W” bottom patterns closely as potential catalysts for market rotation.
https://coincentral.com/john-bollinger-spots-w-bottoms-in-ethereum-and-solana-but-not-bitcoin/