Analysts are speculating that altcoins may be forming a macro bottom against Bitcoin, potentially signaling the onset of a new altcoin season. Despite the broader crypto market losing approximately $100 billion in total market capitalization since Thursday, chart data from analyst JAVON MARKS suggests that altcoins are showing signs of deep downside exhaustion. This setup, which has historically preceded major altcoin rallies, indicates a possible stabilization phase as traders watch for sustained momentum. The recent market downturn has heavily impacted the altcoin sector, with Ethereum dropping over 3.5% to around $2,170 and other major altcoins like XRP, BNB, and Solana experiencing significant declines. Despite these losses, some analysts argue that the sharp corrections could support the long-term altcoin season thesis if Bitcoin dominance weakens and liquidity shifts back into alternative crypto assets.