Expectations for Altcoin Season in 2026

As we approach the year 2026, the biggest question on investors' minds is: Will the altcoin season come? Current market data shows that Bitcoin dominance continues and high risks for altcoins persist. According to CoinMarketCap data, the Altcoin Season Index has dropped to 17 this week. Over the past 90 days, only 17 of the top 100 assets in the markets have outperformed Bitcoin (BTC).

The performance in 2025 clearly demonstrates how distanced altcoins are from the low-risk appetite. Bitcoin experienced a sharp pullback from its record level of $126,000 in October and is currently seeking balance in the $80,000–$90,000 range. During this process, while Bitcoin lost about 6 percent of its value throughout 2025, some low-cap tokens have faced declines of up to 90 percent from their peak prices.

Notable figures such as BitMEX co-founder Arthur Hayes are signaling potential changes in global risk appetite. According to on-chain data, Hayes recently sold 1,871 Ethereum for cash (approximately $5.53 million) over the past week. Subsequently, it has been revealed that he made purchases totaling around $609,000 in the projects Ethena (ENA), Pendle (PENDLE), and ether.fi (ETHFI). This move is being interpreted by analysts as a transition strategy.

The four notable altcoins currently on analysts' radar are as follows: Solana (SOL), which has fallen 58.6 percent from its January 2025 peak, indicating that further price increases may have potential for revaluation due to ecosystem growth. Ethena (ENA) is currently trading at $0.203 and is a significant part of Hayes's portfolio. For Pendle (PENDLE), there is a strong growth indicator within 2025. Meanwhile, ether.fi (ETHFI) has declined from $1.60 in September to $0.70 and stands out with its position in the liquid restaking sector.

Another altcoin project to closely watch for 2026 is Minotaurus (MTAUR). Market analysts are evaluating potential long-term growth scenarios of 50 percent for this project. If investment is made in this project today, a 50 percent increase from the 0.00020 USDT level could theoretically take investors to around $3,960. In conclusion, investors should continue to closely monitor market changes and price movements.