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Altcoin Carnage Ahead? 99% Could Be Wiped Out, Analyst Says

By Bitcoinist
Apr 21, 2026
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Bitcoin’s dominance hovering around 57% has become a quiet alarm bell for traders watching the broader crypto and altcoin market in general — and for good reason.

Bears And Bulls Divided Over Altcoin Timing

Crypto analyst Michael van de Poppe believes a brutal clearing out is coming for the altcoin market, but he does not see it as a collapse. He sees it as cleanup.

He draws a parallel to the early internet era, when hundreds of companies launched, burned through investor money, and vanished. What remained built the modern web.

Despite that stark forecast, van de Poppe says he has rarely been more optimistic about where crypto is heading. Reports indicate he described this as one of the most bullish periods he has seen for the asset class overall, even as most individual tokens face extinction.

However, during that bubble phase, there’s a lot of money made and coming out of the bubble phase, there’s…

Arbitrum Flagged As A Buy-The-Dip Opportunity

Van de Poppe is equally tracking Arbitrum. According to accounts of his latest analysis, there could be a possibility of buying the token when it falls to the $0.16 mark.

Currently, the analyst sees a similarity in the market with what happened during the early months of 2020. The characteristics include increased trading volumes, reclamation of critical price marks, and technical indications before a breakout.

Not Everyone Is Buying The Optimism

Analyst group Our Crypto Talk says the market has not yet earned a bullish call. Their framework requires price to move above the 20-day simple moving average, and for that average to cross above the 50-day.

Neither condition has been met. With Bitcoin still trading below those averages and dominance sitting at 57%, they call this a red zone — a period where markets are more likely to bleed than rally.

Is it the right time to buy Altcoins?

The simple answer is “NO”

Because there is no Altseason right now

You just need 2 conditions on this chart to confirm

Price > 20 SMA 20 SMA > 50 SMA

Bitcoin’s Basing Phase Could Signal What Comes Next

Other analysts flagged rising Bitcoin dominance as a warning sign for altcoins. When Bitcoin’s share of the total market climbs, it typically means money is flowing into Bitcoin and out of smaller tokens — a pattern that has historically preceded extended weakness across the altcoin space.

Van de Poppe, for his part, acknowledges the market is still building a base following the Q4 2025 selloff. That basing phase, he estimates, typically runs two to four months before a breakout takes hold.

Bitcoin has been consolidating for roughly two and a half months, which he says puts the market close to a potential turning point.

Featured image from Unsplash, chart from TradingView

Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of BitKan. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. BitKan shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. Products mentioned in this article may not be available in your region.

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