The crypto market has already surged to new highs, while Bitcoin, the largest cryptocurrency, has broken the previous ATH after hitting $125,559 this bullish October. Now, all eyes are turning to altcoins.
Prominent trader Bull Theory hints that the market may be mirroring patterns from the explosive 2020–2021 altcoin boom.
The 2020 Altcoin season saw a 1000% Rally
According to Bull Theory, altcoins are entering their most explosive phase yet, similar to the one that launched the legendary 2020 altcoin season.
Back in 2020, the TOTAL3 market cap, which tracks the value of all cryptocurrencies except Bitcoin and Ethereum, spent almost two years building a strong base.
When it finally broke out, the market went vertical, delivering a jaw-dropping 1,000% surge in less than a year. That move is what many still refer to as the real start of “Altseason.”
2025 Setup: Same Structure, Bigger Market
Fast forward to today, in 2025, Bull Theory points out that the chart is showing the same structure again.
The TOTAL3 chart has been forming a multi-year base with higher lows, signaling that buyers are quietly soaking up supply. The key resistance level now sits around $1.2 trillion in TOTAL3, and the market is currently testing just below it at $1.14 trillion.
According to the trader, a breakout above this level could ignite another massive uptrend, with projections pointing toward a $5 trillion to $7 trillion altcoin market cap if history repeats.
Market Conditions Favor a Capital Shift Toward Altcoins
This potential move comes as several macro and market factors align in favor of altcoins. Right now, Bitcoin is holding most of the liquidity as it trades near record highs, which has slowed altcoins.
But history shows that once BTC dominance rolls over, capital floods into altcoins.
Supporting factors include the rise of ETH ETFs as investors are pouring billions, while regulatory clarity is improving, and global liquidity is expanding through policy shifts in the U.S., Japan, and China.
Ethereum Above $5,000
For now, the market remains in consolidation, not decline. Well-known crypto analyst Moustache believes that once Ethereum breaks above $5,000, momentum could shift rapidly, marking the beginning of the long-awaited altcoin supercycle.
If 2020 was the spark, 2025 might be the explosion.
Altseason doesn’t just appear out of nowhere. It usually begins with a breakout in TOTAL3, and charts suggest that moment is getting closer.
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