Cryptocurrency analysts and traders are debating whether Altcoin season, the period in which alternative cryptocurrencies outperform Bitcoin in the market, is over.
Historically, Altcoin seasons have been marked by significant price rallies for non-physical cryptocurrencies.
In the 2017-2018 cycle, the Altcoin Market experienced its most explosive growth with coins such as Ether (ETH), XRP (XRP), and Litecoin (LTC) posting record profits.
Crypto analyst Ali Martinez argues that the current number of cell coins makes a sustained alt season unlikely.
Martinez told “This massive supply has changed the market significantly.”
source: ali chart
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supply greater than demand
Economist Alex Krüger echoed this sentiment, noting how an oversupply of tokens affects market behavior.
“Too many tokens. Infinity to come. Token supply is greater than demand. Krüger wrote in He predicted future alternative seasons would be shorter. ‘
Krüger also pointed out the challenge for investors, noting that the large number of options makes effective portfolio management more difficult.
“Being a good coin picker is now very difficult. As good a stock as it is, it’s also very difficult to pick.”
Ash Crypto, a pseudonymous crypto trader, has raised concerns about dilution of the altcoin market, blaming the proliferation of memo coins and low-quality tokens.
“The market is diluted (…) Exchanges only list memes and increase their user base. “Retail bought this meme, fell 80% in a week, and then quit smoking,” he said.
Meanwhile, Cryptoquant CEO Ki Young Ju compared Altcoins to Bitcoin, saying, “Only a few Altcoin projects with strong use cases and stories will survive.”
Bitcoin has more than doubled its market cap since 2021, bringing the total altcoin market cap to $20 trillion, or about 15.8% of the $1 trillion it reached during a brief rally in December 2024. I did it.
Institutional interest may drive selected altcoins
However, not all analysts are bearish on altcoins.
Michaël van de Poppe predicted that certain utility-focused coins could attract institutional interest.
Van de Poppe also noted that Ethereum could lead the next rally, describing ETH as “the most hated rally of 2025.”
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