Analyst: Altcoin market holds key $784B support, could target $1.2T high

Crypto trader and analyst Michaël van de Poppe said the altcoin market, valued at over $879 billion at the time of this writing, is poised for a next major leg up toward its previous all-time high of nearly $1.2 trillion as Total3 holds critical support around the $784 billion level.

Van de Poppe noted that the Total3 market cap is also inching back toward the 365-day moving average, another critical support level, according to TradingView data. The Total3 index hit an all-time high of nearly $1.2 trillion in October but retraced after a historic market crash that caused the total altcoin market cap to decline by about 33% in a single day.

Investors, traders and analysts are attempting to gauge the potential start of a new altseason following a disappointing 2025. Analysts pointed to a red yearly candle for Bitcoin in 2025 — a historic first for BTC in a post-halving year — which they say invalidated the four-year cycle theory, while the proliferation of tokens (over 29 million listed on CoinMarketCap) has saturated the market.

Analysts also said the launch of crypto ETFs changed market dynamics by creating liquidity siloes that kept funds locked and reduced capital rotation into altcoins. Market participants are watching whether Total3 will maintain its supports and if these altered dynamics will allow a typical altseason to materialize, but the outcome remains uncertain.

Key Topics

Crypto, Altcoin Market, Bitcoin, Crypto Etfs, Coinmarketcap