Rebeca Moen
Feb 12, 2026 04:17
Glassnode releases weekly altcoin analysis as SOL, XRP, and BNB suffer sharp losses. Analysts see consolidation ahead with altcoin season unlikely in Q1 2026.
Glassnode’s 41st edition of The Altcoin Vector hit inboxes Wednesday morning as traders grappled with one of February’s ugliest selloffs, with major tokens bleeding 4% to 6.5% in 24 hours.
The timing couldn’t be more relevant. The on-chain analytics firm’s weekly report promises “high-conviction setups across altcoin markets” at a moment when conviction is in desperately short supply. Total altcoin market capitalization sits at $168.4 billion as of February 11, down 1.52% on the day.
Blood in the Water
Solana, XRP, and BNB are leading the retreat. All three have shed between 4% and 6.5% over the past day, caught in a crossfire of macro headwinds that show no signs of letting up.
The culprits are familiar: the Fed’s hawkish stance continues squeezing risk assets, Bitcoin ETF outflows persist, and retail traders—the usual fuel for altcoin rallies—remain conspicuously absent. Capital is flowing where it always goes when fear takes hold: gold and other traditional safe havens.
Altcoin Season? Not So Fast
Anyone hoping for an imminent altcoin breakout should probably recalibrate expectations. Market liquidity remains thin, and the speculative appetite that typically drives smaller tokens higher has evaporated.
Most analysts tracking these conditions see broad consolidation ahead rather than any rotation into alts. The consensus view? Q1 2026 won’t deliver the altcoin season that perma-bulls keep predicting.
That said, institutional interest hasn’t completely dried up. Goldman Sachs recently disclosed holdings across BTC, ETH, XRP, and SOL, while XRP has drawn attention following a tokenization deal with a fund manager—a potential catalyst if the broader market stabilizes.
What Traders Should Watch
Glassnode’s report targets professional traders hunting for setups in volatile conditions. With the current macro backdrop, that means identifying tokens with genuine catalysts rather than chasing momentum that isn’t there.
The next meaningful data point arrives with upcoming Fed commentary and weekly ETF flow figures. Until those paint a clearer picture, expect choppy price action and continued pressure on altcoin valuations.
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