With just 2 months left for the year 2026 to end, there is a new wave around altcoins that is surfacing in the crypto market. According to the lead analyst at Glassnode, AntiFragile, the altcoin market could be preparing for a stronger rally in November and the final months of the year.
He noted that the altcoin speculation has cooled down, with total spot trading volume now around three times Bitcoin’s volume, compared with nearly four times in late September. This means that excessive speculative activity has eased, potentially creating a healthier entry point for buyers.
The crypto community joins the altcoin season hype
Echoing similar sentiments, another known analyst highlighted that TOTAL3, which measures the combined market capitalization of all cryptocurrencies excluding Bitcoin [BTC] and Ethereum [ETH], has reportedly reclaimed a long-term technical pattern and is nearing the end of a retest.
So, if this breakout holds, it could signal renewed strength across smaller cryptocurrencies.
In addition, another analyst on X going by the username Kevin hinted at another bullish sign. He highlighted that altcoin monthly momentum has turned positive for the first time since 2020, indicating that buying pressure might be coming back.
Conditions for the altseason to happen
However, for these predictions to happen in reality, TOTAL3 must hold the $716 billion-$767 billion support zone to maintain the bullish structure.
If it does, the market could move toward the $858 billion-$874 billion resistance zone, implying potential growth in altcoin market capitalization.
But, if TOTAL3 falls below this support range on daily closes, altcoins could experience further declines or sideways trading before recovering.
But is Bitcoin coming in the way of altcoins?
Now, though the Altcoin Season Index, standing at 64 at press time, indicates improving altcoin performance, the index remaining below the typical threshold of 75 raises questions.
Adding fuel to the uncertainty, Bitcoin dominance around 60.52% further indicates that Bitcoin still accounts for a substantial share of the overall crypto market, limiting evidence of a broad capital rotation into altcoins.
This was further confirmed by AMBCrypto’s previous report, wherein on-chain analyst Joao Wedson suggested that capital may be rotating back into Bitcoin and stablecoins.
But the monthly spot crypto ETF flows, with Bitcoin, Ethereum, and other altcoins seeing significant outflows in October, suggest that overall institutional demand remains uncertain. Together, these indicators present a mixed picture.
Ergo, if Bitcoin stabilizes, dominance declines, and capital flows improve, altcoins could gain traction heading into November. However, continued ETF outflows or a Bitcoin price correction could delay the rally.
This came on the heels of Maelstrom CIO Arthur Hayes recently selling $22.28 million worth of altcoins, including 6,400 ETH worth $15.2 million, alongside ENA, UNI, ETHFI, AERO, and Zama.
Final Summary
- TOTAL3 has reportedly reclaimed a long-term technical pattern and is nearing the end of a retest.
- Bitcoin dominance around 60.52% indicates that Bitcoin still accounts for a substantial share of the overall crypto market.
