According to @CryptoMichNL, altcoin market capitalization has held a crucial support level, keeping the broader trend pointed upward (source: @CryptoMichNL on X, Jan 8, 2026). He reports a first bounce followed by a rejection at the 21-week moving average, framing current conditions as normal consolidation with sideways price action (source: @CryptoMichNL on X, Jan 8, 2026). He emphasizes the key trading takeaway that the trend remains up despite the 21-week MA rejection (source: @CryptoMichNL on X, Jan 8, 2026).

According to @CryptoMichNL, altcoins are stuck in a constant grind with sideways price action and the broader bull phase has not started yet, making this the worst bull cycle so far; source: @CryptoMichNL on X, Oct 25, 2025. According to @CryptoMichNL, this characterization points to range-bound conditions where momentum is absent, keeping altcoin upside constrained until a decisive trend forms; source: @CryptoMichNL on X, Oct 25, 2025. According to @CryptoMichNL, traders who remain engaged through the consolidation phase are part of a select group, suggesting patience and disciplined risk management in a non-trending market; source: @CryptoMichNL on X, Oct 25, 2025.

According to glassnode, Bitcoin's Long-Term Holders remain inactive, indicating a sluggish market and potential for continued sideways price action.