The total cryptocurrency market cap achieved a historic milestone of $4.4 trillion late Monday, as reported by CoinGecko.

This surge was largely propelled by Bitcoin, which reached a new all-time high of $126,000, prompting analysts to renew their calls for an altseason.

The crypto sector is witnessing a robust year, growing 30% year-to-date, with over $1 trillion entering the market since January 1. However, gold has managed to surpass crypto’s performance in 2025, gaining 50% and nearing the old record of $4,000 early Tuesday morning.

Devaluing Dollar Fuels Risk Assets

Analyst Daan Crypto Trades remarked on the ATH, noting that the crypto market cap is only 12% above the highs from 2024 when it hit $3.9 trillion. The US Dollar Index (DXY) is similarly down around this timeframe, resulting in an uptick in risk assets overall.

The $TOTAL crypto market cap has hit a new all-time high. The previous consolidation lasted roughly 3 months, sitting atop the late 2024 post-election highs. Presently, it only trades approximately 12% above those levels, while the $DXY (USD) is… pic.

— Daan Crypto Trades (@DaanCrypto) October 7, 2025

Now, altcoins are starting to pick up momentum, with Henrik Zeberg, head macro economist at Swissblock, commenting on the current state.

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He indicated that following a brief downturn in April, the market consolidated through May and June, and now we are poised for a significant wave of altcoin activity.

The analyst KALEO shared insights on Bitcoin’s dominance, which has recently risen by 2% since mid-September but is now losing steam.

“If this continues to decline as anticipated, we could soon see explosive movements in the altseason once support falls below 50%. We may be at the beginning of a trend, but altseason is undeniably upon us.”

While the current altseason indicators from various sources suggest increasing activity, we still have some distance to cover.

Today’s Leading Altcoins

• Ether is making waves with a 4% daily increase, reaching over $4,700.
• BNB surged by more than 5%, achieving a new record of $1,248 during trading hours in Asia.
• Dogecoin increased by 5.5%, hitting $0.266, while Chainlink gained 7.7% to reach $23.50. Plasma (XPL) emerged as the top altcoin of the day, boasting a 17% gain, reaching $1.04.