Crypto traders, market analysts and several metrics suggest that an "altcoin season" is about to begin as Bitcoin price challenges new highs.
The altcoin market has been trending down since the 2024 bull run hit a snag in March, but a number of key indicators reveal that the recent recovery could be a signal of a “massive move” ahead, according to crypto analysts.
From a technical perspective, the altcoin market setup displays strength as it holds above an ascending trendline that has supported TOTAL2—the cumulative market capitalization of all cryptocurrencies except Bitcoin (BTC)— since the 2017 bull cycle.
“The altcoin market cap is currently testing a long-term trendline support that has held strong for the past eight years,” independent crypto analyst Mags declared in an Oct. 26 post on X.
