Altcoin Season New Version: Farewell to General Surge, Transition to Selective Bull Market
In this bull market cycle, many have likely perished while waiting for the altcoin season. So, does our market still have an altcoin season? The answer is definitely yes, but it is different from previous ones. We may be in the last calm period before the outbreak of the next 'altcoin season.' Unlike the last general surge market, the future market will be driven by core narratives such as ETFs, real yields, and institutional adoption.
Signals of Altcoin Season Have Emerged
Just last week, Bitcoin hit a record high monthly closing price, but its market dominance began to decline. At the same time, whales quietly absorbed over 1 million ETH in a single day, amounting to about $3 billion, while Bitcoin's balance on exchanges has fallen to multi-year lows.
Retail investors remain on the sidelines, still skeptical. Sentiment indicators are at low levels—this is exactly the ideal market condition for early entrants.
Everything is beginning to brew at this moment.
Currently, the altcoin speculation index is still below 20%, and the ETH/BTC pair has finally recorded its first weekly green candle in several weeks. The approval of the Solana ETF is a foregone conclusion. The rotation of on-chain capital has already quietly begun, with funds subtly flowing into areas aligned with market narratives such as DeFi, real-world assets (RWA), and restaking.
But this is not 2021; that kind of 'everyone taking off' market will not reoccur.
