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Despite Bitcoin surging back to the $88K level, altcoins have yet to see their big breakout. However, prominent crypto analyst Rekt Capital noted, the altcoin market cap is showing early signs of a potential rally. If it pushes toward the $315 billion mark, a short-term surge could set the stage for the beginning of Altcoin season.
Altcoins Hold Strong as Market Eyes $315 Billion
Altcoins are showing signs of strength as their market cap successfully retests a key support level. Earlier, the altcoin market faced a sharp decline, dropping nearly 55% from its peak. However, it has since regained strength by bouncing back from crucial support zones.
According to Rekt Capital analysis, the altcoin market has rebounded from the black macro wedge and is now testing the $250 billion level, which has historically played a crucial role in determining future price movements.
In the past, similar breakouts have led to significant price surges, making this a key moment for investors to watch closely. If the market sustains momentum above $250 billion, the next target could be $315 billion, a level that has previously acted as a strong resistance point.
Altcoin Season Tells a Different Story
Perhaps reports from Blockchain Center indicate that last year saw brief altcoin peaks but no true altcoin season. Typically, an altcoin season occurs when 75% of the top 50 altcoins outperform Bitcoin over 90 days, usually following a BTC rally.
Blockchain Center’s Altseason Index recorded short bull runs in January, March, and December 2024, but they were too brief to be considered a full season. Unlike past cycles from 2015-2018 and 2019-2022, the current 2023-2025 cycle has yet to see a clear altcoin season.
As of now, the Altcoin Season Index stands at 20, indicating a strong Bitcoin season, suggesting that an altcoin season is still far away.