Why Is the Altcoin Season Delayed and Which Altcoins Will Benefit?

The CEO of CryptoQuant, a blockchain analytics firm, has shared insights into why the anticipated altseason has been delayed, attributing it to a change in Bitcoin (BTC) accumulation patterns.

Ki Young Ju explained that the current Bitcoin surge is being driven by institutional investors and spot exchange-traded funds (ETFs), who show little interest in diversifying into altcoins. Unlike retail investors on crypto exchanges, these institutional players are focused solely on Bitcoin, making it harder for altcoins to benefit from Bitcoin’s upward momentum.

According to Ki Young Ju, this structural shift in how capital flows into Bitcoin means altcoins must now build independent value propositions to attract investments, as they can no longer rely on Bitcoin’s market movements to drive their own price increases.

He also noted a key difference in the way altcoin trading volume has surged. While in the past altseason was defined by capital rotation from Bitcoin, the recent altcoin trading boom is largely driven by stablecoin and fiat trading pairs. This shift points to genuine market growth for altcoins, not just an asset rotation phenomenon.

While Ju remains optimistic about altcoins, he warned that not all will benefit equally. While the altcoin market will eventually experience a surge, it will likely be limited to a select few assets that attract new capital, with many altcoins unlikely to revisit their previous all-time highs.