Altcoins could be gearing up for a rebound after months of subdued price performance. Market data indicates that many tokens are trading above key support levels established in October. Analysts say these signals could indicate a renewed appetite for risk across the broader cryptocurrency market.
In brief
- The altcoin market remains above October supports, suggesting an improving technical structure and renewed interest from long-term trend-oriented traders.
- Total3 capitalization remains close to $784 billion and is approaching its 365-day moving average, a threshold often associated with market inflections.
- The Altseason failed to materialize in 2025, held back by the disappointing performance of Bitcoin, high BTC dominance and capital dispersed across millions of tokens.
- ETFs and market saturation have slowed capital turnover, although some analysts argue that opportunities remain outside the traditional cyclical framework.
Van de Poppe: a possible return to $1.2T
Crypto trader and analyst Michaël van de Poppe said the altcoin market, now valued at over $879 billion, appears poised for another attempt at its previous high near $1.2 trillion. He noted that the current price structure remains constructive despite previous declines.
Attention has turned to Total3, the market capitalization of all cryptocurrencies excluding Bitcoin and Ether. Van de Poppe observed that Total3 continued to hold the $784 billion support zone. Price behavior around this level suggests that buyers are actively defending this range. The metric is also approaching its 365-day moving average, a closely watched level for potential changes in the long-term trend.
In October, Total3 briefly hit an all-time high near 1.2 trillion before the momentum faded. This advance proved short-lived, followed by a market-wide sell-off. Nearly a third of the altcoin market value was wiped out in a short period of time. Since then, prices have stabilized but have struggled to move into a sustained uptrend.
Altcoin Market Faces Stagnating Capital Turnover in 2025
Market participants continue to monitor signs of the upcoming altseason, a phase typically characterized by steady gains across a wide range of altcoins. However, 2025 ended without the typical rotation of capital from Bitcoin to smaller tokens.
Several factors contributed to this result:
- Bitcoin closed 2025 with a negative annual candle, a rare occurrence for a post-halving year.
- Confidence in the four-year cycle theory has weakened as historical patterns have not repeated.
- Bitcoin dominance remained high for most of the year.
- Capital briefly shifted to Ethereum-focused funds.
- Regulatory and structural concerns weighed on sentiment.
CoinMarketCap now tracks over 29 million cryptocurrencies. With capital spread across an increasing number of assets, investor attention has become fragmented, reducing the impact of turnover-based rallies.
The rise of exchange-traded funds has changed the circulation of capital in the crypto market. ETFs have created isolated pools of liquidity tied to specific assets. The funds entering these products have often remained contained, limiting spillovers into smaller tokens.
Arthur Hayes, co-founder of BitMEX, offered a different perspective. According to him, the altcoin season should be understood as an ongoing process rather than a one-off event. He cited the 2017 and 2020 cycles, as well as recent activity around Hyperliquid, to show that opportunities continue to emerge. Hayes believes that many traders missed gains by waiting for a definitive signal that never came.
Maximize your Tremplin.io experience with our 'Read to Earn' program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
