Altcoin Season Expectations in 2026

As we approach 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 remain. According to CoinMarketCap data, the Altcoin Season Index has dropped to 17 this week. Over the last 90 days, only 17 of the top 100 assets in the market have outperformed Bitcoin (BTC).

The performance in 2025 clearly proves how distant altcoins are from a 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% of its value throughout 2025, some low-cap tokens have faced declines of up to 90% from their peak prices.

One of the key figures, BitMEX co-founder Arthur Hayes, is signaling that the risk appetite in the world may change. According to on-chain data, Hayes sold 1,871 Ethereum in the last week (approximately $5.53 million) to convert to cash. Following that, information emerged that he invested around $609,000 in the projects Ethena (ENA), Pendle (PENDLE), and ether.fi (ETHFI). This move is seen by analysts as a transition strategy.

Four key altcoins on analysts' radar are as follows: Solana (SOL), which has fallen by 58.6% from its January 2025 peak, indicating that ecosystem growth could carry re-pricing potential during any possible price increase. Ethena (ENA) is currently trading at around $0.203 and is an important part of Hayes' portfolio. There are indicators of strong growth potential for Pendle (PENDLE) in 2025. ether.fi (ETHFI) has dropped from $1.60 in September to $0.70, drawing attention with its position in the liquid restaking sector.

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