Altcoins have spent the past few years under the shadow of Bitcoin’s dominance, struggling to reclaim relevance as capital and attention largely concentrated on BTC. But the tide may be turning. Since April, the Total 2 — a metric representing the market capitalization of all cryptocurrencies excluding Bitcoin — has climbed 35%, signaling a potential shift in momentum toward altcoins. This recovery marks one of the strongest altcoin performances in recent years and has reignited hopes of a broader market expansion beyond Bitcoin.
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Top analyst Daan has weighed in on this development, highlighting a key technical formation: a higher low on the Total 2 chart during the recent market bounce. This structure is often seen as a bullish signal, suggesting that investors are stepping in to accumulate altcoins at increasingly higher price levels. If confirmed with a higher high in the coming days or weeks, this could mark the start of a sustainable altseason.
As macroeconomic conditions stabilize and risk appetite returns, altcoins could see renewed interest from traders and investors. The next key test will be whether bulls can reclaim higher levels and flip the broader altcoin market structure definitively back to bullish.
Altcoins Prepare For A Breakout
Altcoins remain about 50% below their all-time highs, but bulls are setting the stage for what could be an expansive move in the coming weeks. After months of underperformance, the broader altcoin market is beginning to show early signs of structural recovery. Ethereum — the market’s leader among altcoins — has been consolidating between $2,400 and $2,700 since early May, and many analysts believe that a breakout in ETH could serve as the catalyst for a broader altcoin rally.
Daan recently highlighted a key technical development: the Total 2 Altcoin Market Cap has made a higher low during the latest bounce, a structure that often precedes bullish continuation. This higher low suggests growing demand and reduced downside pressure, both of which are critical to establishing a sustainable uptrend.
The key area to watch is the 2024 high setback in May. If bulls can push Total 2 above that level, it would confirm a higher high — the final piece needed to flip the high timeframe structure decisively back to bullish. That breakout would likely usher in renewed momentum across mid- and small-cap tokens, fueling what many hope will be the…
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