Manufacturing Data Could Be the Trigger for the Next Altcoin Rally, Trader Argues

Is the next altcoin season nearer than traders assume, even with Bitcoin stuck below $80,000?

Speaking at TOKEN2049 Singapore, Peter Anthony, who founded the trading education platform The House of Crypto and its community of more than 400,000 followers, gave an interview to BeInCrypto for the Bitunix Ultra Talk series.

In his view, the crypto market may be nearing another inflection point. He laid out the case for an unexpected economic gauge as a possible signal of the next altcoin rally, and described how traders can spot opportunities ahead of the price moves.

Is Altcoin Season Closer Than Investors Think?

A large share of crypto investors remain in wait for an altcoin season. Bitcoin keeps its grip on the market, and the majority of smaller tokens have found it hard to hold on to meaningful rallies.

The most recent Altcoin Season Index is still under the threshold that marks a broad altcoin rally. Bitcoin, meanwhile, came into November under pressure after a rough October and ahead of the November 3 US midterm elections.

Peter, though, thinks an important economic signal may be going unnoticed by traders.

He has been examining how Bitcoin dominance moves relative to the ISM Manufacturing Index published by the US Institute for Supply Management, a gauge of activity across American factories.

A reading of 58 is the level he flags as potentially significant. In earlier stretches of strong manufacturing activity, he argues, Bitcoin dominance fell sharply, and smaller cryptocurrencies began to outperform Bitcoin.

“We haven’t seen that happen since 2021.”

Notably, the freshest economic figures seem to be heading the way he describes.

October brought a rise in the ISM Manufacturing Index to 55.5, up from 54.5 in September. The November 2 report showed US manufacturing expanding for a tenth month in a row.

The worldwide artificial intelligence boom is another possible engine of further economic growth, in his view.

He singled out semiconductor shipments from Taiwan and South Korea as indicators worth keeping an eye on.

In October, South Korean semiconductor exports jumped 259.4%, powered by worldwide demand for AI infrastructure.

The reasoning goes that stronger economic activity may in time lift liquidity and investors’ willingness to hold riskier assets, altcoins among them.

That link between manufacturing activity and Bitcoin dominance, though, is a historical observation and not a proven trading signal.

He stays optimistic that a recovery could arrive earlier.

“I think we could see it sooner rather than later.”

Which Areas Should Traders Watch Before Altcoins Run?

Should altcoin season return, he thinks traders ought to watch closely where money travels within the crypto market.

Tracking capital as it moves between blockchain networks, he argues, can surface opportunities before individual tokens begin to rally.

In the interview he talked about activity in the Robinhood ecosystem and money rotating into Solana, Sui and Base.

His method is to see which networks are drawing fresh money and then find projects likely to gain from that flow.

“When a chain starts to pick up in volume, what does well on a chain? DEXes, lending protocols, this is the playbook.”

When trading activity picks up on their networks, decentralized exchanges and lending platforms stand to gain.

He suggests tracking these shifts with on-chain analytics tools such as Artemis and DefiLlama.

The logic is simple: a blockchain that draws more users and more trading can lift demand for some of the applications built on it.

That can narrow a trader’s research, though busier networks are no guarantee that the associated tokens will climb.

How Do Traders Spot Altcoins That Look Undervalued?

Promising projects also get passed over routinely, he believes, simply because their token prices have dropped hard.

Some cryptocurrencies, he said, may shed 80% or 90% of their value even as the businesses behind them keep bringing in substantial revenue.

“People look at the chart and think, ‘Oh, it’s a scam.’ But it’s not. It’s just come down in value, token value.”

Pump.fun and Hyperliquid were his examples of projects best examined through their financial results.

By way of context, DefiLlama data puts Pump.fun’s protocol revenue for October 2026 at approximately $45.35 million.

In his view, that sort of information lets investors judge whether a cryptocurrency merits a second look following a steep fall.

“What’s their revenue looking like?”

Protocol revenue, though, does not by itself push token prices higher. Token supply, valuation and the ways holders share in a project’s success all count as well.

More broadly, his strategy is to find projects with solid underlying activity ahead of the market’s attention.

What Is the Costliest Error Traders Make in a Rally?

To Peter, one of crypto trading’s greatest hazards is piling into a popular narrative after the fact.

Investors, he said, often discover new opportunities only once prices have already climbed and social media chatter has heated up.

His counsel is to ask how many would-be buyers are left once an investment is widely popular.

“Who is left who’s stupider than me to buy in after me?”

He recounted how he missed an earlier rally in the Robinhood blockchain ecosystem: by the time he noticed the trend, the related tokens had already surged.

That episode hardened his preference for spotting narratives early and steering clear of assets that already command wide attention.

“When you spot the narrative, you need to ask yourself, when have I spotted this narrative compared to everybody else?”

The principle holds too for traders tempted to dump lagging holdings only because a different cryptocurrency is rallying.

Before shifting positions, he argues, investors should know why they hold an asset and whether its fundamentals are still sound.

Might Bitcoin’s Bull Run Last Until 2028?

His optimism reaches past altcoins.

Bitcoin, he thinks, may be in a longer cycle than the familiar four-year pattern many investors track.

How the wider economy unfolds will decide it, but he sees a chance the present cycle runs into 2027 or even 2028.

“I think there’s a lot more fuel in the tank. I think we’re going to see Bitcoin continue to rise.”

He further believes adoption has room to grow as more financial activity migrates on-chain.

Even so, his view rests on economic conditions keeping on improving, above all the manufacturing and liquidity trends he tracks.

To traders awaiting the next altcoin season, his core message is to track capital flows, dig into project fundamentals and stay alert to changes in the wider economy.

Pinpointing the next rally with precision may be hard. His approach is to work out where opportunities might appear before they turn into the market’s next crowded trade.