Bitcoin Leads as Altcoin Indicators Bottom Out, Fueling Altseason Debate

Altseason refers to a period when capital rotates out of Bitcoin and into Ether and other altcoins, driving broad-based gains. TOTAL2, which tracks total crypto market capitalization excluding Bitcoin, is therefore an important gauge. XWIN Research said inflows into spot Bitcoin ETFs and the growing number of tokens are intensifying competition for liquidity among smaller assets.

Cointelegraph reported on March 10, 2026, that Bitcoin had climbed back above $71,000. TOTAL2 had fallen about 43% from a peak of roughly $1.7 trillion in October 2025 to $970 billion and was testing its 200-week moving average near $900 billion. CryptoQuant data showed that 36.8% of altcoins were near all-time lows, while just 4.59% of altcoins on Binance were trading above their 200-day moving averages.