When star tokens break out of ranges but face a prolonged bearish correction, altcoins tend to outperform Bitcoin, sometimes even holding higher as BTC prices pull back. In this trading environment, market participants should continue to look for opportunities to trade long, although profit margins may be limited. However, the current accumulation phase appears to be drawing to a close, signaling that a new altcoin season may be around the corner.
Historical trading patterns show that altcoin market cap (excluding Bitcoin’s total market cap) in similar ranges typically undergoes a period of accumulation after breaking out of a key trend reversal zone. The current market conditions are consistent with this pattern, suggesting that altcoins may be on the eve of a massive rally that could occur in the coming days.
On the chart, altcoins are performing very similarly to the early stages of the 2021 bull run. This pattern involves a long period of accumulation, a breakout, a short period of volatility, followed by a surge in price. Currently, the market is in the late stages of this pattern, signaling an imminent liftoff. The launch of the altcoin season may further boost the bullish atmosphere in the market.
Some altcoins, especially meme coins such as Pepe and FLOKI, have begun to soar and hit new highs. Chainlink has also received attention from the market, while other tokens such as Ondo and Near Protocol have also gained some attention. At the same time, tokens such as Ethereum (ETH), Fantom (FTM), dogwifhat (WIF) and Lido DAO (LDO) seem to be nearing the end of accumulation. However, large investors (whales) still seem to have a strong interest in Bitcoin, XRP, and top cryptocurrencies such as Chainlink and Ethereum.
Overall, altcoins have accumulated more momentum relative to Bitcoin, and these altcoins may become the focus of the market once the BTC price exceeds the predetermined range. However, only when BTC bulls begin to experience losses, the altcoin season may really attract the attention of the mainstream market, thereby driving the prices of most altcoins up.
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