CryptoQuant
CEO Analyzes Reasons Behind Altcoin
Season’s Delay
The cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта market is buzzing with discussions about the delayed onset
of the altcoin season. While Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin has surged due to institutional interest
and spot ETF (exchange-traded funds) demand, the altcoin market remains
relatively subdued.
Analysts and industry insiders are dissecting the factors behind this
phenomenon, revealing a technical interplay of capital flows, investor
behavior, and market events.
Diverging Opinions on Delayed Altcoin Season
Ki Young Ju, CEO of CryptoQuant, argues that the current Bitcoin ( BTC• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin ) rally
differs significantly from previous cycles. In a detailed thread on X
(formerly Twitter), he explained that the nature of capital flowing into
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin has shifted. Institutional investors and spot ETFs are now driving
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin s growth rather than retail traders on crypto exchanges.
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“These institutional investors and ETF buyers have no intention of rotating
their assets from Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin to altcoins,” Ki Young Ju stated .
He emphasized that these players operate outside of crypto exchanges, making
asset rotation less feasible. Moreover, smaller altcoins depend heavily on
exchange users for liquidity, which has been lacking in this cycle.
CryptoQuant CEO suggested that fresh capital must flow into crypto exchanges
for altcoins to achieve new all-time highs — a trend not yet evident. While
institutional funds might venture into major altcoins, minor ones remain
reliant on retail traders.
Ki Young Ju concluded that altcoins need independent strategies to attract
fresh capital rather than riding Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin’s momentum. Despite this cautious
outlook, he remains optimistic.
“Altseason will come, but it’ll be selective. Not every altcoin will hit its
previous ATH,” he added.
Not everyone agrees with CryptoQuant CEO s analysis. CryptoVizArt, a
senior analyst and researcher at Glassnode, believes altseason has already
begun. He highlighted Solana’s explosive growth in active addresses, which now
number 18.6 million per day—nearly 40X that of Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum.
“Retail has already chosen where to gamble in this cycle,” CryptoVizArt noted
.
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The researcher pointed to the popularity of meme coins and Solana-based
projects as evidence of altseason in progress. However, Ki Young Ju partially
aligned with this view.
“Altseason has started for a few major altcoins, but not for others,” the
CryptoQuant executive noted .
Other analysts, like Crypto Feras, take a more historical perspective. In
their view, altseason traditionally occurs in the latter stages of Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin’s
cycle.
“In 2020, altcoins were crushed during Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin’s glorious run in H2, only to
rally later,” Feras stated .
They argue that the sheer number of altcoins today dilutes capital inflows,
making the current cycle’s altseason less impactful than previous ones.
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The Psychology of Market Cycles
XForceGlobal, another prominent community member, offered a nuanced critique
of Ki Young Ju’s argument, highlighting the role of psychology and the
dominance metric in understanding market behavior.
“It’s impossible to measure the allocation of institutions versus exchange
users. The market operates as a self-fulfilling prophecy,” they said .
They pointed out that altseason often lags Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin’s rally, with confidence in
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin typically translating into altcoin growth.
“Altcoins will always lag, but once money flow aligns, an altseason is
inevitable,” XForceGlobal concluded.
Adding to the discussion, indicators such as the Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum-to-Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin ( ETH/BTC
) ratio hitting historic lows suggest a possible shift in the market.
Similarly, BeInCrypto also reported on altcoins being poised for growth ,
supported by rising sentiment and key technical indicators.
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However, the total altcoin market cap remains below its all-time high, echoing
Ki Young Ju’s concern about the lack of fresh liquidity from exchange users.
Total Altcoin Market Cap. Source: TradingView
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The consensus among analysts is that altcoin season will arrive, but its scale
and scope remain uncertain. Institutional interest in Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin has reshaped the
market, reducing the direct spillover into altcoins. Retail participation,
essential for smaller altcoins, has shifted focus to niche sectors like meme
coins and Solana .
Ultimately, altcoins must innovate to attract new capital independently.
Whether through unique use cases, partnerships , or technology breakthroughs,
the path forward requires more than reliance on Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin’s momentum.
As Ki Young Ju aptly summarized, “Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin’s future growth is tied to ETFs,
institutions, and governments—not retail traders. Altcoins must adapt to this
new reality to thrive.”
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