Altseason’s Ghostly Return: Will March Be Mad with Gains?

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Oh, the capricious winds of the crypto market! Behold, the altcoin market capitalization (TOTAL2) hath ascended once more above the fabled $1 trillion mark. It closed the second week of March with a green candle, a sight as rare as a honest bureaucrat in a Gogol tale, after seven weeks of unrelenting crimson despair.

Simultaneously, the Altcoin Season Index, that fickle barometer of hope and folly, hath returned to its January heights. This, dear reader, hath kindled whispers of an altseason in March, despite the world teetering on the edge of geopolitical absurdity.

Analysts, those modern-day soothsayers, point to additional omens that might herald this season. Yet, the flow of capital, like a mischievous nose in “The Nose,” seems to favor but a few chosen narratives.

The Altcoin Season Index and Tether’s Dominance: A Tale of Potential March Madness

As the third week of March unfurled its peculiarities, the Altcoin Season Index soared to 49 points, its highest since the 9th of January. Yet, it lingers far below the sacred 75-point threshold required to declare an altseason with certainty. Still, its rebound from the depths of despair suggests investors are once again willing to dance with the altcoin demons.

During this same period, the dominance of Tether (USDT.D), that stablecoin of stability, hath begun to wane, sending bearish signals through the market. USDT.D, which measures Tether’s share of the crypto market, often declines when investors spend their USDT on altcoins, much like a bureaucrat spending his bribe money on a new nose.

Analyst Gordon, peering into the 4-day chart of USDT.D, detected a bearish MACD-H crossover, a signal that hath historically foretold short- and medium-term altcoin recoveries. “USDT.D bearish cross hath occurred,” Gordon proclaimed, with the gravitas of a character from “Dead Souls.” “Liquidity shall flow into BTC and alts once more.”

“USDT.D bearish cross hath happened. Liquidity will now flow into BTC and alts again,” analyst Gordon predicted, with the air of a man who hath seen too many noses go missing.

Crypto analyst Michaël van de Poppe, ever the optimist, also foresees altcoins rising strongly in the near future, by 20-40%. Yet, selecting the right altcoins hath become as difficult as finding a rational character in a Gogol story. With over 37 million tokens in the market, investors must navigate a labyrinth of trends and risks, lest they fall prey to low-quality projects.

At present, tokens related to artificial intelligence (AI) stand out like a nose in a crowd. Data from CoinGecko reveals that AI Coins lead altcoin performance, with an average gain of 19% during the first two weeks of the month. Ah, the irony of machines outperforming humans in the realm of finance!

Reports from BeInCrypto highlight several AI-related tokens attracting investor capital in March, including Bittensor and NEAR Protocol, each with their own peculiar catalysts driving attention. Meanwhile, exchange-based tokens like Hyperliquid (HYPE) and OKB are gaining momentum, the former from the HIP-3 catalyst and the latter from news of an ICE investment. Ah, the market, ever a theater of the absurd!

Yet, despite these positive signals, the broader market sentiment remains as fragile as a Gogol protagonist’s psyche. The Fear and Greed Index lingers in the “extreme fear” zone, while military tensions in the Middle East show no signs of abating. Thus, any altcoin recovery may be as fleeting as a nose that vanishes without a trace, struggling to sustain momentum amid persistent risk-off sentiment.

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2026-03-16 14:01