 
 
Macro and market signals suggest that altcoins could experience a meaningful shift in 2026, even as Bitcoin continues to dominate near-term market structure.
According to The Kobeissi Letter, the environment heading into 2026 is unusually supportive for risk assets. US President Donald Trump has repeatedly called for interest rates to fall to 1% and has floated the idea of stimulus checks.
At the same time, artificial intelligence capital expenditure is approaching $1 trillion annually, precious metals are printing record highs, and mass deregulation is accelerating amid an escalating US-China AI arms race.
This macro mix is unfolding as the Federal Reserve has ended quantitative tightening, retail participation in capital markets sits at record levels, and midterm elections approach, all of which tend to inject liquidity and volatility into financial markets.
In that context, crypto is poised to rejoin what Kobeissi describes as the broader asset-owner party, with investors encouraged to position ahead of potential shifts.
 
On the market structure side, analyst João Wedson points to the Altcoin Season Index as an early signal. While the index currently stands at 19 out of 100, firmly in Bitcoin season, Wedson argues that this does not preclude altcoin outperformance.
Historically, altcoins have outperformed, regardless of Bitcoin’s direction, once they complete a stabilization phase. The Alphractal CEO notes that many altcoins are already holding key levels, while Bitcoin remains above $87,000 and may still face downside risk.
This setup mirrors conditions seen in 2019 and 2022, when a large portion of altcoins failed to print new lows even as top-market-cap assets experienced deeper drawdowns.
That said, performance data over the past 90 days shows pockets of outsized gains, led by PIPPIN up more than 1,800%, ZEC rising over 480%, and several privacy- and utility-focused tokens posting steady advances.