Bitcoin’s Surge Above $71K Sparks Debate Over Incoming Altcoin Season

[chainsniff]

Weekly TOTAL2 market cap chart. Source: Cointelegraph/TradingView

The recent rally of Bitcoin above $71,000 has sparked fresh optimism across the crypto market, with some analysts suggesting the price bottom may already be in. However, while Bitcoin shows renewed bullish momentum, altcoins have yet to follow with the same strength. The TOTAL2 index — which measures the total market capitalization of all cryptocurrencies excluding Bitcoin — is currently holding support near its long-term 200-week moving average.

TOTAL2 previously peaked near $1.7 trillion in October 2025 but has since fallen to roughly $970 billion, marking a 43% correction. Despite the decline, analysts note that the current level near $900 billion has historically acted as strong support during previous market pullbacks, raising speculation that the altcoin market may be preparing for its next major cycle.

[nihalsari]

classic crypto, everyone screaming fear while the charts are like chill bro i got this