ETH & SOL W-Bottoms $19B De-Leverage; BTC Stalls at $112k

Published: 2025-10-19 20:34:18 |

Ethereum and Solana (ETH & SOL) have formed W-bottom reversal patterns on their Bollinger Bands, holding at $3,600 and $180 support levels. This technical development suggests a possible altcoin rebound, but hinges on Bitcoin’s next moves. A $19 billion deleveraging in early October flushed excess positions, driving the CoinGlass Derivatives Risk Index from ‘high risk’ to ‘neutral’. The move has created cleaner market conditions, with altcoin exchange inflows surging to a yearly high. Bitcoin (BTC) remains capped below critical resistance at $112 000 and $100 000, while CryptoQuant data shows market fear at early-2025 extremes. Traders should monitor BTC’s retests of these zones and the sustainability of Ethereum and Solana support levels. A decisive BTC rebound could trigger a broader altcoin rally.

Neutral

This news is categorized as neutral because, while Ethereum and Solana have formed bullish W-bottom reversal patterns and the $19 billion deleveraging has cleansed excess leverage—setting a technically constructive backdrop—Bitcoin remains capped below critical resistance levels. In the short term, a failure of BTC to reclaim and hold above $112K could limit altcoin upside, keeping market direction uncertain. In the longer term, a decisive BTC rebound would likely catalyze a broader recovery in ETH & SOL and other altcoins.