Article Summary

**Altcoin Season Cancelled: Cryptocurrency Market Fails to Break 2021 Records Despite Bitcoin's $126K Rally** The cryptocurrency market faces a pivotal moment as Bitcoin reaches new all-time highs near $126,000 in October, yet altcoins struggle to replicate previous cycle performance. The altcoin market cap, tracked by TradingView's TOTAL2ES index excluding stablecoins, remains trapped below its November 2021 peak of $1.6 trillion, signaling a potential shift in digital asset investment patterns. This disparity highlights Bitcoin's dominant market position while raising questions about the traditional "altcoin season" phenomenon that historically follows BTC rallies. DeFi tokens, meme coins, and alternative cryptocurrencies have failed to capture the explosive growth seen in the last bull market cycle, despite blockchain technology advancement and increased institutional adoption. Market analysts suggest this divergence indicates evolving investor sentiment, with capital increasingly flowing toward Bitcoin as a store of value rather than speculative altcoin investments. The cryptocurrency landscape appears to be maturing, potentially ending the era of widespread altcoin rotation that defined previous market cycles.