Bitcoin has reached a record high of $109,000 following the 2024 halving event. Meanwhile, altcoins have experienced significant losses, with their market value dropping by $234 billion.
Why Are Altcoins Underperforming?
The altcoin market's dominance has been steadily declining since early 2024, reaching its lowest point since June 2023. New projects, particularly in the meme coin sector, are gaining attention, while established altcoins lose ground.
Will Altcoins Rebound in 2026?
Currently, the total market capitalization of cryptocurrencies, excluding Ethereum, has stabilized around $850 billion, a crucial support level. This situation raises doubts about the immediate recovery prospects for altcoins.
Market Expert Optimism
Market expert Moustache remains optimistic about altcoins' future, suggesting that if current support levels hold, a resurgence could follow. A breakout from a descending broadening wedge formation might lead to significant upward moves in altcoin prices.
While the future of altcoins remains uncertain, Bitcoin continues to dominate the market and reach new heights. Experts hope that altcoins will stabilize and recover in the future.
