Altseason Beckons: Quiet Signs Spark a Crypto Comeback

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The altcoins lie in the red, like tired field hands waiting for a spark that won’t disappoint. On the twenty‑third of January, 2026, the Russell 2000 finally shook off the dirt and busted out with a Cup & Handle, a move old hands say has pointed toward greener pastures for the altcoins.

Pair that with a market cap that looks sturdy enough to lean on and Ethereum/BTC nudging away from their stubborn downbeat, and the stage feels set for a possible altcoin rally. If you squint, you can almost hear the distant clatter of coins learning to walk upright again, like calves finding their footing after a drought. The mood is as if the market woke up, brushed its teeth, and realized it forgot to smile yesterday.

Russell 2000 ‘Cup & Handle’ breakout: Explained

As this is being written, the Russell 2000 sails past the sword edge of $2,461, finishing its Cup & Handle pattern. Small caps lifting like sparrows at dawn is a reminder that investors are dusting off their risk appetites, and that’s usually a decent omen for the little coins that peck around the edges of the market.

If the breakout holds, this could be the momentum march the altcoins have been waiting for, like a chorus line finally finding its rhythm. Momentum indicators are showing teeth, lending a bullish wink to the forecast.

But if the index slips back below the neckline, we may have to reread the map. This is one of those critical moments when the market seems to lean forward, then forgets to stand up straight.

 Is $1.7T Market Cap on the horizon?

At press time, the Total Crypto Market Cap (Total 2) was tracing an ascending triangle, a sign that a breakout might be lurking around the next hill. Support near $1.2 trillion held firm, and if the market kept climbing, the next landmark could be $1.7 trillion.

Privacy coins, such as Monero [XMR], Zcash [ZEC], and Dash [DASH], also showed stubborn legs, hinting at renewed interest in the quiet corners of the altcoin world. The air carried a whiff of energy, like rain gathering in the throat of a dry canyon.

There was a sense that the market was quietly stacking kindling, especially if the Fed’s quantitative easing someday makes an entrance, bringing in more capital. If that momentum holds, something interesting could follow-maybe a little miracle, or at least a decent wind toward the sails.

Could this be the start of altseason?

Ethereum’s performance against Bitcoin [ETH/BTC] also showed signs of life, edging toward a break from a long-downward trend that began back in 2018. The momentum, if it breaks, could fan a broader altcoin rally.

If it breaks out, a move of around 46% could signal a bullish sprint and spark a wider ascent for altcoins. And beyond the numbers, Ethereum’s expanding ecosystem and growing institutional curiosity add a kindling that the market has been waiting for. The energy around Ethereum seems to be the spark that could lift the rest of the altcoin crowd from their chairs.

Final Thoughts:

  • The Russell 2000 breakout and Total 2’s ascending triangle whisper that the market is yawning awake to a risk-on mood, with altcoins perhaps riding that breath higher.
  • If ETH/BTC breaks its downtrend, the momentum could mount into a full-blown altcoin surge, with Ethereum leading the way like a stubborn mule that finally decides to run.

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2026-01-24 11:03