Altcoin Market Sees Breakout Against Bitcoin Amid Historical Precedent

The altcoin market has been gaining momentum against its traditional counterpart, Bitcoin. According to charts tracking the total altcoin market cap excluding Bitcoin, this trend is not unprecedented. In fact, historical data reveals that two previous breakouts led to extended periods of outperformance.

One such instance was in 2016 when altcoins outpaced Bitcoin for 574 days. Another occurred in 2019 with a stretch of 770 days. Currently, the weekly trend has broken to the upside once again, with five consecutive green weekly candles printed against Bitcoin.