‘Altcoin speculation has slowed down’ – Can November break Bitcoin’s 60% grip?

A new wave is appearing in the crypto market for altcoins with only two months remaining in 2026.

The lead analyst at Glassnode, AntiFragile, mentioned that altcoin speculation has cooled. Total spot trading volume is now roughly three times Bitcoin’s volume, down from nearly four times in late September. This reduction suggests that excessive speculative activity has eased, possibly creating a healthier entry point for buyers.

Another analyst noted that TOTAL3, which represents the combined market capitalization of all cryptocurrencies minus Bitcoin [BTC] and Ethereum [ETH], has reportedly reclaimed a long-term technical pattern and is approaching the end of a retest. A breakout from this could signal renewed strength in smaller cryptocurrencies.

Furthermore, Kevin, an analyst on X, indicated another bullish sign. He pointed out that altcoin monthly momentum has turned positive for the first time since 2020, suggesting buying pressure might return. However, for these predictions to materialize, TOTAL3 must maintain the $716 billion-$767 billion support zone to keep the bullish structure intact.

If TOTAL3 holds, the market could move toward the $858 billion-$874 billion resistance zone, which implies potential growth in altcoin market capitalization. Conversely, if TOTAL3 closes below this support range on a daily basis, altcoins might face further declines or sideways trading before any recovery.

The Altcoin Season Index, currently at 64, shows improving altcoin performance, but the index remaining below the usual 75 threshold raises questions. Bitcoin dominance, at about 60.52%, further confirms that Bitcoin still holds a significant portion of the overall crypto market, limiting clear evidence of broad capital rotation into altcoins.

This was supported by a prior AMBCrypto report where on-chain analyst Joao Wedson suggested capital could be rotating back into stablecoins and Bitcoin. However, significant outflows of Bitcoin, Ethereum, and other altcoins in October from monthly spot crypto ETF flows suggest institutional demand remains uncertain.

These factors create a mixed outlook. If Bitcoin stabilizes, dominance decreases, and capital flows improve, altcoins could gain momentum heading into November. Yet, continued ETF outflows or a Bitcoin price correction could postpone this rally. This follows Maelstrom CIO Arthur Hayes recently selling $22.28 million in altcoins, including 6,400 ETH valued at $15.2 million, along with ENA, UNI, ETHFI, AERO, and Zama.