While Bitcoin broke record after record in 2025, Ethereum and altcoins performed more subdued compared to BTC.
While it remains to be seen whether an altcoin season similar to past bull cycles will begin, a critical analysis for altcoins has emerged.
According to cryptocurrency analyst Matthew Hyland, key indicators tracking the altcoin market have broken a downtrend that has lasted for over a year, suggesting that a new bull run may be beginning.
A Notable Breakthrough in Altcoins!
In an analysis shared by Matthew Hyland from his X account, he stated that key altcoin market indicators have emerged from declines lasting over a year, and the market may be entering an uptrend.
According to the analyst, the TOTAL2 indicator, which tracks the total market capitalization of altcoins other than Bitcoin, and the TOTAL3 indicator, which excludes Bitcoin and Ethereum, have broken their downward trends that have lasted for more than a year, giving an upward signal.
Will We See a Bigger Rally Than the 2020-2021 Cycle?
The analyst also pointed out that the current technical structure shows similarities to past market movements. According to the analyst, a major bull cycle could begin in the altcoin market if past formations reappear.
At this point, Hyland noted that if past patterns repeat themselves, a new altcoin bull run could be of a magnitude exceeding the 2020-2021 cycle.
However, the analyst emphasized that it is unclear whether the breakout in technical indicators is the beginning of a true bull trend or merely a bear market rally, noting that a break from a downtrend alone does not guarantee a lasting bull market.
According to the analyst, altcoins need to maintain their current levels, create new highs, and for the upward trend to spread to the market as a whole.
*This is not investment advice.
Continue Reading: Major Breakthrough in Altcoins: First Sign of a New Altcoin Season or a Bear Market Rally? Analyst Explains!