Veteran commodity trader Peter Brandt recently shared that the altcoin season might be underway as the total market value of altcoins surged to $1.39 trillion, approaching the 2021 peak of $1.7 trillion. According to the graph Brandt shared, Bitcoin’s dominance in the market is about 64%, and historically, dips below this level often coincide with altcoin rallies. Early Bitcoin $118,814 investor Jeremie Davinci cautioned that the alt season has not yet started, and most investors might miss the opportunity when it comes. Both Brandt’s and Davinci’s analyses suggest the potential for capital to shift from Bitcoin to altcoins in the remaining days of the year.
What Market Data Indicates for Altcoins
The total market capitalization of altcoins has recently rebounded to $1.39 trillion, just 18% shy of the 2021 bull run record of $1.7 trillion. Historical data indicates that similar closeness often boosts market risk appetite, with investors transferring their Bitcoin profits into altcoins.
Meanwhile, Bitcoin’s dominance stands at around 64%. In past cycles, when this ratio dipped below 60%, it triggered a shift of capital towards Ethereum $3,422 , Solana $174 , and several medium-to-small scaled coins. Market observers predict that testing this threshold in the coming weeks could result in a surge in volume for both newly listed altcoins and existing major coins.
Experts’ Expectations for Altcoin Season
Brandt, employing his technical analysis approach developed since the 1970s, identified a pattern similar to the inverse head-and-shoulders formation, which suggests a higher probability of a breakout in favor of altcoins. If a capital rotation does occur, the total market value of altcoins could surpass previous peaks, setting new all-time highs.
Davinci, a notable figure in the early Bitcoin community, cautioned that “most investors will be late when the altcoin season arrives.” Although he remains a long-time defender of Bitcoin, he also highlights leading memecoins like SHIB , DOGE , and PEPE. Speaking to new investors, he emphasized long-term savings in Bitcoin with the phrase, “Those who accumulated Bitcoin 10 years ago are planning early retirement today.” In the same thread, Davinci projected a $500,000 target for Bitcoin to fortify individual investor sentiment.
