The altcoin market is exhibiting a technical pattern reminiscent of 2020, with a head-and-shoulders formation emerging around the $200 billion support level. As of October 16, 2025, the total crypto market cap, excluding the top 10 cryptocurrencies, reached $260.8 billion, indicating consolidation between $200 billion and $260 billion. Analysts suggest this pattern is similar to the pre-recovery phase of 2020, characterized by investor fatigue and significant liquidations. This setup could potentially lead to a breakout, echoing past market behavior.