Altcoins Break Downtrend: New Bull Run or Bear Market Rally?
After a subdued performance in 2025 compared to Bitcoin's record-breaking year, altcoins may be on the verge of a new bull run. Analyst Matthew Hyland notes that key indicators for the altcoin market have broken their downtrend, which has lasted over a year.
The TOTAL2 indicator, which tracks the total market capitalization of altcoins other than Bitcoin, and the TOTAL3 indicator, which excludes Bitcoin and Ethereum, have both emerged from declines lasting more than a year. This uptrend signal suggests that the altcoin market may be entering a new phase.
Hyland also points out that the current technical structure shows similarities to past market movements. If past formations reappear, a major bull cycle could begin in the altcoin market, potentially even exceeding the magnitude of the 2020-2021 cycle.