- TOTAL2 breakout signals potential 46% surge, igniting bullish momentum for altcoins.
- Rising Altcoin Season Index and Fear-Greed score hint at renewed investor confidence.
- Capital rotation from Bitcoin to altcoins gains traction as market sentiment shifts.
A significant breakout in the cryptocurrency market may be setting the stage for an explosive rise in altcoin valuations. According to Captain Faibik, an analyst analysis, the total crypto market cap excluding Bitcoin (TOTAL2) has breached a long-standing descending wedge pattern. This development often precedes major bullish trends.
With a clean breakout above the $1.22 trillion resistance level, many analysts are turning their attention to altcoins. They anticipate a capital shift from Bitcoin into broader digital assets. If support holds above this level, a strong upward push could take TOTAL2 to a projected $1.76 trillion. That would represent a 46.58% gain from current levels.
#Altcoins are about to go PARABOLIC.. 🚀🌕 pic.twitter.com/7sGND4SbWR
— Captain Faibik 🐺 (@CryptoFaibik) June 11, 2025
Momentum Builds Across Key Altcoins
Recent market data reinforces the bullish outlook for altcoins. Ethereum trades near $2,770, posting only a slight decline. Meanwhile, Solana is up over 3%, reaching $164.86.
Other major altcoins like BNB and XRP have also seen positive movement. This suggests that investors may already be diversifying beyond Bitcoin.
Notably, Bitcoin itself has seen a mild pullback, trading at $109,282 with a 0.46% decline. These conditions often lead to capital flowing into mid- and low-cap cryptocurrencies.
Besides, the Fear and Greed Index stands at 65, signaling investor confidence. A reading in the “Greed” zone typically indicates that traders are optimistic and willing to take risks.
Although the Altcoin Season Index remains low at 32, there has been a noticeable upward trend from last week’s 24. The Index is not yet in altcoin season territory, which begins at 75, but the rising trajectory is worth monitoring.
Market Sentiment Suggests a Rotational Shift
The shift in sentiment becomes clearer when examining the Altcoin Season Index’s 30-day trend. Despite being in Bitcoin-dominant territory, the recent increase suggests weakening Bitcoin dominance.
The Index reached a low of 12 in late April, but has steadily risen. This gradual climb may indicate that traders are beginning to favor altcoins again. A sustained move above 50 would mark a more balanced market.
Moreover, historical data points to the market’s capability to pivot quickly. In December 2024, the Index hit a peak of 87, showing the market’s potential for rapid rotation into altcoins. Consequently, the current wedge breakout and sentiment uptick could act as a launchpad for another strong altcoin season.
