While the global cryptocurrency market cap was trading at $2.6 trillion after a 0.26% decline over the past 24 hours, the altcoin market cap stood at $182.83 billion at press time.
Amid these drops and rises, analysts in the crypto community are calling for an altcoin season. Michaël van de Poppe, CIO and founder of MN Fund, notes that market sentiment is improving and, therefore, he believes that the altcoin season is “very possible”.
Poppe emphasized that there will be no “real altcoin run,” but many altcoins that have been in a prolonged bear market for about 18 months now will see a profitable rally in the short term.
View aligned with the entire crypto community
Echoing similar sentiments, another analyst said that many investors are only focused on the dynamics of the Bitcoin (BTC) market. So, in his article X, the analyst shed light on the TOTAL2 (total crypto market capitalization minus Bitcoin) and noted:
This is the most underrated Altcoin chart.
Using the chart, the analyst also drew comparisons to previous altcoin seasons, which took place in 2016/2017 and 2020/2021.
The analyst believes that the current price development is a dead ringer for the accumulation phase preceding previous seasons. Therefore, if the pattern repeats, a big altcoin rally could occur in 2026/27.
In fact, in a separate article, the same analyst used Tether’s (USDT) (USDT.D) dominance to point out that “the next altcoin rally is just around the corner.”
He observed that Tether’s dominance was rejected by resistance, indicating that money could soon be diverted from stablecoins to altcoins.
Altcoin Season Index Not Strong Yet
Although there is so much optimism in the market, the CoinMarketCap Altcoin Seasonal Index did not ring with similar sentiments. At the time of writing, the altcoin season index was at 39, 11 index points shy of the level needed to confirm an upcoming altcoin season.
In fact, the seasonal altcoin index was only able to reach the level above 50 for a brief period in March, as evidenced by the 90-day chart.
Other chain measures paint a worrying picture
Likewise, the CEX volume ratio for non-BTC to BTC (excluding Stablecoins) by CryptoQuant also indicates that the altcoin season is uncertain.
Although the volume ratio is increasing, the absence of Green Buy Walls portends a near-term altcoin bull run.
Additionally, the percentage of altcoins near their all-time low (ATL) by CryptoQuant suggests that nearly 30% of the entire altcoin market is currently near its all-time low.
Until the pink zone begins to shrink, altcoin season remains a distant dream. However, AMBCrypto previously noted that, if this happens, the next altcoin season could be broader than previous cycles.
Final summary
- Analysts are predicting a new season ahead, drawing comparisons with previous cycles.
- The altcoin index and on-chain metrics paint an opposite picture, suggesting that altseason is far from reality.
