Is Altseason Coming?

By: WEEX|2025/11/17 18:00:00

Altseason – a term describing the phase where altcoins significantly outperform Bitcoin – is becoming a hot topic as the cryptocurrency market enters late 2025. Many investors are wondering if a new altcoin season is about to unfold. In reality, a series of indicators and analyses from reputable sources such as Glassnode, CoinDesk, and Bloomberg Crypto are showing positive signals that altseason may be drawing near.

Altseason Index signals optimism

A key metric for gauging altseason is the Altcoin Season Index. Recently, this index has surged to 71 points, sparking optimism that the market is shifting from an “Ethereum season” to a true altcoin season. Typically, when the Altcoin Season Index crosses the 75-point threshold, it signals that 75% of the top 50 cryptocurrencies (excluding stablecoins) have outperformed Bitcoin over the past 90 days – marking an official altseason. Although it has not yet crossed that threshold, the index's rapid rise suggests that capital is tending to flow out of major assets like BTC and ETH into lower-cap altcoins. Many market analysts view this as an early sign that a widespread altcoin boom is forming.

Beyond the general index, market data also supports this trend. The total market capitalization of altcoins (TOTAL3 – excluding BTC and ETH) is currently approaching the $1.15 trillion mark, a key technical resistance level. The chart structure shows an accumulation pattern with narrowing volatility. If the total altcoin market cap breaks clearly above the $1.15 trillion mark, the door to the $1.3–1.5 trillion range will open, confirming the strength of the altseason. Conversely, if the market fails to hold the support zone around $1 trillion and drops below this level, the altseason could be delayed.

Technical signals reinforce altcoin momentum

Technical signals in the market are also reinforcing the view that altseason is approaching. First, Bitcoin Dominance (BTC.D) – the ratio of Bitcoin's market cap to the entire market – has shown signs of decline. After peaking at approximately 65% earlier this year, BTC.D has now fallen to about 58–60%. The decline in Bitcoin's dominance implies that capital is rotating out of BTC to seek opportunities in higher-yield altcoins. History shows that whenever Bitcoin Dominance drops sharply, especially if it falls below the ~50% mark, the market often enters powerful altcoin rallies. Currently, with BTC.D continuously weakening, the conditions for an altcoin breakout are gradually converging.

Additionally, the performance of Ethereum (ETH) – the largest altcoin – compared to Bitcoin is also a crucial metric. In previous cycles, ETH has often led the altseason: when ETH begins to rise faster than BTC, capital subsequently spreads to other altcoins. Currently, many observations show that ETH is showing signs of outperforming BTC in terms of returns, especially since the middle of Q3 2025. This is considered phase 2 in the capital rotation cycle (after the phase where Bitcoin rises the most, comes the phase where Ethereum rises more). ETH beginning to “accelerate” against BTC is a key signal that altseason is entering an acceleration phase, preparing to spread to large-cap altcoins and then to smaller groups.

The market is also witnessing positive technical patterns. For example, some analysts have noted the appearance of a “Golden Cross” on the weekly timeframe of the altcoin index – when the 100-week moving average crosses above the 200-week moving average. The last time a similar Golden Cross signal appeared, altcoins entered an explosive rally shortly thereafter. Concurrently, momentum indicators like the RSI for many altcoins have not yet entered overbought territory, suggesting that there is still room for growth. These factors combined are creating a solid technical picture supporting the altseason scenario.

Expert insights: Glassnode, CoinDesk, Bloomberg Crypto

Experts and analytical organizations have also offered notable perspectives on the possibility of an upcoming altseason:

Glassnode (On-Chain Analytics): According to on-chain analysis firm Glassnode, their internal Altseason indicator signaled on July 9, 2025. This means the market environment is favorable for altcoins: stablecoin supply is beginning to expand, new capital is flowing into both Bitcoin and Ethereum, while altcoin market cap is also increasing significantly. Glassnode assesses these as structural signs that big money is preparing to rotate into the altcoin group, laying the groundwork for a vibrant altcoin season. In other words, on-chain data supports the altseason scenario as smart money gradually leaves defensive positions (holding stablecoins or BTC) to seek higher growth opportunities in altcoins.
CoinDesk (Coinbase Institutional Report): In August 2025, CoinDesk cited a report from Coinbase Institutional forecasting that altseason could begin in September 2025. The Coinbase report – led by David Duong, Head of Institutional Research – points to 3 main factors driving the shift to altcoins: (1) Bitcoin Dominance decline – Bitcoin gradually loses its dominance as investors take profits and seek other assets; (2) Altcoin market liquidity improvement – bid-ask spreads are narrowing and order books on exchanges are becoming deeper, helping large altcoin trades experience less slippage; and (3) Risk appetite returning – a more stable macroeconomic backdrop (inflation cooling, interest rates expected to fall) makes investors willing to pour capital into high-beta assets like altcoins to seek returns. Coinbase describes this as a cyclical capital rotation: first, capital flows into large altcoins (“blue-chip” groups like ETH, BNB, XRP…), then spreads to mid- and small-cap altcoins. The report also notes that while September could mark the start of altseason, the scale and duration of this boom will depend on market developments as well as macroeconomic factors in the final months of the year.
Bloomberg Crypto (Analysis by James Seyffart): From a Wall Street perspective, Bloomberg ETF expert James Seyffart stated that altseason has officially begun (speaking in early September 2025). He argues that unlike previous cycles primarily driven by retail investors, this altseason is led by corporate and institutional capital. Specifically, publicly traded companies have been actively adding altcoins to their balance sheets as part of their reserve assets: for example, Tom Lee’s Bitmine company purchased an additional $167 million in Ethereum in Q3, and another enterprise spent over $300 million to accumulate BNB, becoming the world’s largest BNB holder. These moves show that corporate treasuries are pouring capital into altcoins, creating sustainable demand rather than just a fleeting FOMO wave.
Additionally, Bloomberg Crypto notes that Bitcoin Dominance is falling to about 55–58%, a clear testament to capital rotation into altcoins. Seyffart points out that BTC’s 58% dominance is still quite high compared to historical altseasons – in the past, altcoins boomed most strongly when BTC.D fell below 40%. Therefore, he believes the current market still has plenty of room for altcoins to grow if this trend continues and there are no unexpected shocks to Bitcoin. Another important catalyst is the crypto ETF roadmap: a series of ETFs for altcoins (from Ethereum to Solana, XRP, DOGE, etc.) are awaiting approval from US regulators. Although Seyffart does not expect single-asset altcoin ETFs to attract as much capital as Bitcoin ETFs, the emergence of many multi-asset ETFs (baskets containing multiple altcoins) could drive new capital from professional investors into the altcoin market.
Regarding technical analysis, Bloomberg also shares the same view on the signals mentioned: they emphasize that TOTAL3 (altcoin market cap) is forming a converging triangle pattern with support around $1 trillion and resistance near $1.15 trillion. If it breaks above $1.15 trillion, altcoins could enter an acceleration phase with a short-term target around $1.3–1.35 trillion, especially in the context of ETF news or positive new capital inflows. Conversely, if altcoins weaken and break below the $1 trillion support level, analysts warn that altseason could stall due to a lack of momentum.

Conclusion: Is altseason drawing near?

Based on the series of data and analyses mentioned above, it can be seen that many signs indicate altseason is drawing near, and may have even started to some extent. The Altcoin Season Index is rising, Bitcoin Dominance is gradually decreasing, technical patterns of the altcoin market are simultaneously sending positive signals, and importantly, large institutional capital is entering the fray. These are all factors that typically appear at the beginning of an altcoin season in the past.

However, investors should also be cautious. The cryptocurrency market remains volatile and unpredictable, and not all altcoins will rise equally. Some experts warn that the explosion of a series of new tokens (memecoins, high-risk projects) could lead to “pump and dump” phenomena and local bubbles. The 2025 landscape is also different from before – the number of altcoins has reached tens of thousands, making capital more fragmented than in previous cycles. Therefore, this altseason may unfold with new nuances, both opening up great profit opportunities and posing risks for those who do not select carefully.

In short, the answer to the question “Is altseason coming?” is that there is a basis to believe that an altcoin season is gradually forming. Consensus from market indicators and expert views shows a cycle of capital rotation into altcoins is underway. Investors should closely monitor signals such as Bitcoin Dominance, the Altcoin Index, and developments in altcoin market capitalization. If current trends continue, the 2025 altseason could be one of the most impressive booms, but it comes with a requirement for careful risk management. Preparing a profit-taking strategy and a reasonable investment portfolio will help you maximize opportunities when altcoin season truly flourishes.

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