Why This Analyst Is Bullish on Altcoins Again in 2026

Crypto analyst Dennis Liu, who posts as VirtualBacon, says he is the most bullish on altcoins he has been in four years. In a video shared on X, he credited a Federal Reserve balance sheet that has grown again since last November for why this cycle could treat them better than the one that ran from October 2023 to October 2025. Liu’s first argument is that the current Bitcoin cycle remains early, which he considers a favorable time to trade altcoins. His second is the altcoin-to-Bitcoin ratio, measured using TOTAL2 excluding stablecoins and divided by Bitcoin.