While Bitcoin remains rangebound below $71,000, several altcoins have posted double-digit weekly gains. Zcash, Pepe, Bittensor, and Aster led the top 50 crypto assets, with gains between 18.5% and 24.1%. Analysts attribute the selective rotation to improved macro sentiment and targeted narratives. However, these assets remain far below their all-time highs, and market predictors assign only a 9% chance of a full altcoin season before April 2026.
A selection of altcoins have posted double-digit weekly gains as Bitcoin trades in a narrow range below $71,000. According to market data, this indecision follows five liquidation events wiping out over $1 billion in positions so far in 2026.
Investors are rotating into tokens with specific narratives rather than triggering a broad altseason. Among the top 50 coins, Zcash gained 24.1%, followed by Pepe, Bittensor, and Aster with rises between 18.5% and 21.9%.
Analyst Lai Yuen of Fisher8 Capital noted weekend price action briefly flashed risk-on signals before fizzling. “Probably some people took that as a risk-on signal over an illiquid weekend to pump altcoins,” Yuen stated.
Ignacio, CMO at Bitget, linked the moves to improving macro sentiment and softer U.S. inflation data. “Capital is rotating selectively into high-conviction altcoins with strong narratives, such as ETF speculation and ecosystem momentum,” he explained.
Despite the gains, these altcoins remain dramatically below their historical peaks. Zcash trades over 90% below its 2016 high, while Pepe and Bittensor are 84% and 75% off their respective all-time highs.
Market sentiment remains cautious, as shown on prediction market Myriad. Users there assign only a 9% chance of an altcoin season before April 2026.
Ryan Yoon, senior analyst at Tiger Research, said the current move is more targeted than past cycles. “Institutional-grade sectors like stablecoins, RWA, and privacy chains have focused on long-term growth,” Yoon noted.
The sustainability of gains depends on continued favorable macroeconomic tailwinds. All eyes are on the upcoming PCE price index data on February 20, which will factor into the Federal Reserve’s March rate decision.
Markets currently assign a 90% probability the Federal Funds Rate remains unchanged, according to CME’s FedWatch tool. Myriad predictors put just a 31% chance on the Fed cutting rates by more than 25 basis points before July.
