Key takeaways:
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Altcoins’ cup-and-handle pattern projects a rise to $2.78 trillion market cap, hinting at an “altcoin season.”
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Bitcoin dominance below key moving averages suggests altcoins may outperform in the near term.
According to crypto traders, many altcoins are currently displaying some bullish patterns that suggest “it’s altcoin season” as Bitcoin dominance begins to drop.
Altcoins eye “phenomenal” rally to $2.78 trillion
In the latest altcoin analysis, popular trader Jelle highlights a breakout from a highly bullish continuation cup-and-handle setup forming on the TOTAL3/USD weekly price chart.
TOTAL 3 refers to the combined market capitalization of all cryptocurrencies, excluding Bitcoin (BTC) and Ether (ETH).
Related: There’s more to Ripple than the ‘XRP Army’: Why the altcoin is a good trade
A break above the neckline of the pattern at $1.1 trillion could push TOTAL3 up by around 100% to $1.98 trillion.
“Altcoins have broken out from the multi-year cup and handle!” the trader said in a Thursday post on X, adding:
“One last hurdle to overcome, but once this clears $1.1 trillion, everything goes nuts.”
Veteran trader Peter Brandt observed a similar setup on TOTAL2, or the combined market capitalization of all cryptocurrencies excluding Bitcoin, on the weekly candle chart.
The measured target of this pattern aims at $2.78 trillion, or a 97% rally in the total altcoin market cap.
Responding to the breakout, Brandt said:
“It’s altcoin season.”
It’s altcoin season pic.twitter.com/BShKyS6PDO
— Peter Brandt (@PeterLBrandt) July 16, 2025
Jelle’s and Brandt’s bullish outlooks come as altcoins posted their strongest performance against Bitcoin since late November 2024, breaking out of a multimonth downtrend as observed by analyst Stockmoney Lizards.
Fueling the altcoin’s rally is Ether’s 24% performance over the last seven days, suggesting capital rotation from Bitcoin as other cryptocurrencies play catch-up.
“ETH is trading at $3,400. That’s how fast things can go,” said MN Capital founder Michael van de Poppe, adding:
“These six months are going to be phenomenal for Altcoins.”
Is Bitcoin season ending?
Bitcoin dominance, or Bitcoin’s market share relative to the overall crypto market, is one of the indicators commonly used to indicate whether the altseason has begun. It reflects overall investor sentiment and risk…
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