TLDR
- Analysts predict a liquidity shift later this year could trigger an altseason.
- Despite Bitcoin’s 680% surge, most altcoins have underperformed in 2023.
- Liquidity is currently concentrated in low-risk assets, limiting altcoin growth.
- Some altcoins, including BNB and Zcash, have recently outperformed the broader market.
- Altcoin season indicators remain at bear market lows, indicating a continued dominance of Bitcoin.
Crypto analysts are divided on the timing of the much-anticipated altcoin season. Some predict a major liquidity shift later this year. Others point to current indicators, which show little sign of an altseason. Altcoins have generally underperformed, despite Bitcoin’s impressive surge. Bitcoin’s price has jumped 680% since November 2022. Analysts suggest altcoins will follow Bitcoin if liquidity returns to risk assets.
Bitcoin and Ethereum’s Influence on Altseason
Bitcoin (BTC) and Ethereum (ETH) have experienced significant growth this year. However, altcoins have mostly lagged behind.
“The liquidity is currently focused on low-risk assets,” said Ash Crypto, a well-known analyst. He added, “As the Federal Reserve cuts rates, we expect more liquidity to flow into risk assets, including altcoins.”
Analysts expect this shift to trigger an altseason. Bitcoin and Ethereum are expected to reach new highs, with altcoins following suit.
Why no Altseason in 2025 yet ?
Bitcoin has pumped 8.5x to $126,000 from the bottom of $15,400 in November 2022.
US stocks are at an all-time high.
Gold added $15 trillion to its market cap.
With massive liquidity, all these big assets are absolutely exploding. While ETH is…
— Ash Crypto (@Ashcryptoreal) October 24, 2025
Despite these predictions, altcoin indicators remain weak. The Blockchain Center’s Altseason Index stands at 35 out of 100. Similarly, CoinMarketCap’s altseason gauge is at 24, signaling a “Bitcoin season.” CryptoRank and Bitget report similar results, showing altcoin markets at bear market lows. The potential for a shift in liquidity remains, but market conditions are still far from confirming an imminent altseason.
Some Altcoins Outperform Despite Market Lows
While most altcoins are underperforming, a few have shown signs of life. BNB, Solana (SOL), Hyperliquid (HYPE), Zcash (ZEC), and World Liberty Finance (WLFI) have recently outperformed the broader market. BNB has hit new all-time highs, and Zcash has gained momentum. However, these are exceptions in a market dominated by Bitcoin’s performance. As liquidity flows back into the market, these coins could signal the beginning of an altseason.
Altseason remains a topic of speculation, but signals still suggest caution. Many expect a liquidity shift later this year, which could trigger a surge in altcoins. However, for now, Bitcoin continues to dominate the market, keeping altcoins in the background.
