Everyone is waiting for the altcoin season to begin. Popular crypto analyst Michael van de Poppe believes the current market cycle is setting up for strong momentum across several altcoins in the coming months.
Van de Poppe recently noted that the next altcoin rally could start with a few strong projects like Hyperliquid, Zcash, and Near Protocol.
According to him, the first stage of any altcoin recovery usually begins with stronger-performing projects attracting liquidity before money gradually spreads across the broader market.
This can be seen through the development of this project. The Hyperliquid (HYPE) token has gained strong momentum after launching its first prediction market linked to real-world economic events.
Rising activity across the Hyperliquid ecosystem has helped push the token closer to its all-time high.
Meanwhile, Zcash has also seen renewed interest, with its price rising about 43% over the past few weeks to around $615.70, showing growing demand for privacy-focused cryptocurrencies.
NEAR is gaining support as well, driven by growing interest in AI-related blockchain projects. The token has jumped more than 14% in the last 24 hours to around $2.69.
Van de Poppe believes improving macroeconomic conditions could become the biggest catalyst behind the next altcoin rally.
He explained that falling bond yields and lower oil prices could help reduce market pressure and improve appetite for risk assets like crypto.
However, his comments come as the Altcoin Season Index dropped from 36 to 27, showing that Bitcoin is once again outperforming most altcoins in the market.
The declining Altcoin Season Index signals that investors are still rotating money back into Bitcoin instead of smaller cryptocurrencies.
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