TL;DR
- Although a few altcoins followed BTC on the way up and even painted new all-time highs, the so-called altseason never really transpired.
- Moreover, many such cryptocurrencies have plunged in the past few months, leading analysts to question whether we will even see an altseason during this cycle. Is this about to change?
Altseason refers to a relatively short time when capital moves from Bitcoin to alternative coins, triggering substantial price rallies for the second cohort of crypto assets. Usually, they occur after BTC’s price has gone through the roof. However, despite numerous speculations and predictions, this wasn’t really the case this time around.
Aside from a few altcoins, such as SOL and BNB, jumping and charting new all-time highs, the overall trend didn’t really go into an altseason phase. Some, such as the largest of the bunch – ETH, have underperformed and now trade at multi-year lows. Consequently, industry experts believe that even if there is an altseason, it will play out differently than in the past.
The decline in value for many alts in the past few months led to a surge in BTC’s dominance. The metric stands at a four-year peak of over 60% on almost all crypto data aggregators.
As such, the altcoin season index, which measures whether the market favors BTC or the alternative coins, has gone below 20, widely regarded as a catapult stage.
The X channel of The Moon Show, backed by popular YouTuber Carl Moon, published the chart below, suggesting that April 2025 could be the calm before the storm. They added that the index is near ‘historical lows,’ which have been followed by wild rides by the altcoins in the past.
Altcoin Season Index is near historical lows.
Every time this happened… altcoins WENT WILD.
April 2025 could be the calm before the storm.
Are you loading or just watching? pic.twitter.com/IHlrlyB4Ba
— The Moon Show (@TheMoonShow) April 16, 2025