Analysis: Trump's remarks ignite the altcoin season, over half of cryptocurrencies return above their 200-day moving average, total altcoin market cap surges by $215 billion in three days

CryptoQuant analyst Darkfost released an analysis showing that between August 19 and 22, the total market capitalization of altcoins jumped by $215 billion in just three days, surging over 24% and pushing Total2 (the total crypto market cap excluding BTC) back above the $1 trillion threshold. Mid-cap and small-cap altcoins saw the sharpest gains, with smaller market caps correlating to greater two-way volatility. This rally was directly triggered by multiple statements from Trump on August 19: First, he announced the U.S. would purchase large amounts of Bitcoin, and urged Congress to pass the CLARITY Act, claiming his administration had "completely ended the war on cryptocurrencies." Notably, these positive developments came amid extremely thin trading volume and near-exhausted selling pressure, so their price-moving impact was significantly amplified. On the Binance platform, roughly 80% to 85% of altcoins had traded below their 200-day moving average since last November; as of now, 56% have returned above this average, with over half of the tokens holding above this key technical level, marking a systemic shift in market structure. Historically, such a broad rally of this magnitude is typically an early mid-signal of an altcoin season. However, the market has entered an overbought zone and needs a short-term pullback to digest gains; if altcoin momentum remains strong, new opportunities will continue to emerge going forward.