Analysts are focusing on altcoins as Bitcoin (BTC) experiences a price decline, with hopes of a potential altseason. This phase, which often follows Bitcoin halvings, has been anticipated since the fourth Bitcoin halving in April.

An altcoin season refers to a period where altcoins outperform Bitcoin and Ethereum (ETH), offering better investment returns.

Mags, a prominent crypto analyst, points out that altcoins are trading at 60% to 80% of their previous highs. He highlights that the Total2, which tracks the market cap of the top-125 cryptocurrencies excluding Bitcoin, is holding above an ascending trendline.

If this support holds firm, Mags suggests it could signal the beginning of the “biggest altcoin season of all time.” When Total2 stays above a trendline, it indicates positive momentum and a bullish trend for altcoins.

Another analyst, Mustache, notes that altcoins have maintained a perfect Wyckoff accumulation pattern for several years. He suggests that altcoins are now consolidating before…