Altcoin Season 2025: What’s Really Happening?

🚀 Key Highlights:

CryptoQuant CEO Ju Ki-Young confirms that the 2025 altcoin season has begun.

Unlike previous cycles, Bitcoin (BTC) is no longer the go-to trading currency for altcoins.

The market is seeing more "PvP" trading—where existing investors move money around rather than new funds entering the space.

A New Kind of Altcoin Season

Traditionally, an altcoin season occurs when alternative cryptocurrencies outperform Bitcoin, driven by investors rotating profits into smaller-cap coins. But 2025’s altcoin rally is breaking the mold.

📊 Bitcoin’s Changing Role

On February 21, Ju Ki-Young revealed that Bitcoin is no longer the primary currency for altcoin trades. Instead, stablecoins like USDT have taken over as the main trading pair.

🔹 Altcoin trading volume is now 2.7 times higher than Bitcoin’s.

🔹 Traders are jumping into altcoins directly via stablecoins, rather than cycling profits from BTC.

This marks a major shift from previous market cycles, where BTC served as the bridge to altcoin gains.

Is There New Money in Crypto? 💰

While altcoin activity is booming, Ju warns that this is a "highly selective altcoin season." In past cycles, a broad range of altcoins surged together, but in 2025, only a few strong projects are thriving.

👉 Bitcoin’s market cap has doubled, yet the total altcoin market cap hasn’t hit its previous all-time high.

👉 This suggests that traders are recycling existing capital rather than fresh money entering the market.

👉 Ju describes this as a PvP (player-versus-player) market—gains come at another trader’s loss.

BTC and Altcoins: A Growing Divide 🔍

Historically, Bitcoin and altcoins moved together, but that connection is weakening. BTC is now more integrated with traditional finance, making its price movements more influenced by institutions rather than retail-driven altcoin speculation.

📌 BTC dominance is no longer the key indicator for altcoin season.

📌 Instead, trading volume is now the primary metric to watch.

Which Altcoins Will Win? 🏆

Not all altcoins will benefit from this shift. Ju cautions that only projects with strong fundamentals and real-world use cases will thrive. Many weaker coins may struggle or vanish altogether.

🔸 Investors should be selective—this is not a traditional bull market.

🔸 The rally is focused on quality over quantity.

What to Watch in 2025 📈

🔹 Altcoin trading volume – Continued growth could extend the alt season.

🔹 BTC-to-altcoin capital flows – If BTC holders start rotating funds into altcoins, it may signal a broader rally.

🔹 New money entering the market – Fresh capital could fuel a more explosive altcoin season.

Final Thoughts 💡

Yes, altcoin season is here—but it’s unlike anything traders have seen before. Instead of easy profits across all altcoins, only a few select projects are winning.

So, what do you think? Is this the start of a new

crypto cycle, or just a temporary shift? Let’s discuss!