Altcoins Gone Wild

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So, you want to know if it’s altcoin season? 🤔 Well, let’s take a look at some charts and see if we can’t figure it out. After all, as any good Douglas Adams fan knows, the answer to the ultimate question of life, the universe, and everything is 42… or in this case, maybe it’s just a bunch of charts. 📊

Key takeaways (because who doesn’t love a good list?):

  • Altcoins are looking rather bullish, with a cup-and-handle pattern that’s just begging to be broken out of. 💥

  • Bitcoin dominance is on the decline, which could mean that altcoins are about to take center stage. 🎭

According to some clever crypto traders, many altcoins are currently displaying some rather… let’s call them “encouraging” patterns. 🤩 It seems that Bitcoin dominance has begun to drop, and that can only mean one thing: it’s altcoin season, baby! 🎉

A Rally of Phenomenal Proportions

Popular trader Jelle has spotted a rather tasty breakout from a highly bullish continuation cup-and-handle setup on the TOTAL3/USD weekly price chart. 📈 TOTAL3, for those who don’t know, refers to the combined market capitalization of all cryptocurrencies, excluding Bitcoin (BTC) and Ether (ETH). Because who needs those two, anyway? 😜

A break above the neckline of the pattern at $1.1 trillion could push TOTAL3 up by around 100% to $1.98 trillion. That’s a lot of moolah, if you ask me. 💸

“Altcoins have broken out from the multi-year cup and handle!” exclaimed Jelle in a Thursday post on X. “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. Because who doesn’t love a good candle chart? 🕯️

The measured target of this pattern aims at $2.78 trillion, or a 97% rally in the total altcoin market cap. That’s a lot of… well, you get the idea. 🚀

Responding to the breakout, Brandt said: “It’s altcoin season.” 🎉 Well, that settles it, then.

It’s altcoin season

— 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. Because who doesn’t love a good lizard? 🦎

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. Because who doesn’t love a good game of 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.” 🤩 Well, that’s a relief.

The End of Bitcoin Season?

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 appetite in the market. Because who doesn’t love a good appetite? 🍴

This indicator had been on a downward trend since June 27, reaching an eight-week low of 62.61% on Thursday. That’s a lot of… well, you get the idea. 📉

As CryptoMoon reported, several analysts say Bitcoin’s market dominance has reached its peak as altcoins continue pushing higher. Because who doesn’t love a good push? 🏋️‍♀️

Popular crypto analyst Mikybull Crypto says “Bitcoin dominance is dumping” as it breaks below the critical support provided by the 50-day simple moving average (SMA) at 64.78% and the 100-day SMA at 64.38%. 📊

“Massive for altcoins,” he added. Well, that’s a relief. 🙌

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2025-07-17 12:52