Altcoin Market Set for Its Biggest Bull Run Yet
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Smaller tokens are making a comeback against the S&P 500, but the setup could unravel if leverage gets out of hand.
The altcoin market may be approaching a turning point after several major gauges broke out of year-long downtrends, according to analyst Matthew Hyland.
His charts suggest smaller cryptocurrencies are gaining ground against Bitcoin and traditional risk assets, although rising leverage also increases the odds of a painful correction.
Altcoin Gauges Break Long Downtrends
In a post published on September 7, Hyland said ETH, Total 2, Total 3, and OTHERS had all confirmed the end of their year-plus declines by forming higher highs. Let’s break that down a bit.
Total 2 tracks altcoins excluding Bitcoin, while Total 3 removes both BTC and Ethereum. OTHERS excludes the top 10 cryptocurrencies and therefore focuses more heavily on smaller tokens.
Hyland questioned whether the moves were simply a “bear market rally,” then followed up with a more bullish assessment.

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