The wait continues for the big altcoin season, which was said to be coming but never came. While some analysts still argue that a major altcoin season like previous cycles is coming, others argue that this cycle is different and that the altcoin season may not be as exuberant as the previous ones. According to analysts, the current cycle is no longer a typical halving cycle and is driven by institutional demand. At this point, Bybit x Block Scholes shared his assessments of the altcoin season in his Quarterly Report. Accordingly, the report stated that institutions delayed the altcoin season by keeping Bitcoin (BTC) dominance high. Analysts noted that Bitcoin maintained its strong lead in market dominance even after breaking multiple records. At this point, Bybit x Block Scholes analysts wrote that BTC dominance remaining high is preventing a typical altcoin season from developing. In past post-halving surges, investors often shifted their funds into altcoins to take on higher risk and potentially greater returns. This time, however, BTC's dominance remained high, with altcoins posting only modest gains. The report also noted that this trend is driven by the growing influence of institutional investors turning to spot ETFs, which has been the most significant event of this cycle. Furthermore, noting that Ethereum’s (ETH) market share is still low compared to previous altcoin seasons, analysts predict that a broad altcoin season seems unlikely anytime soon. Finally, analysts added that the potential approval of staking-enabled ETH ETFs could trigger a more selective altcoin season that only benefits higher-quality altcoins. *This is not investment advice. Continue Reading: Bitcoin Rushes From Record to Record, But Major Altcoin Season Still Hasn't Started! Analysts Explain the Reason for the Delay!
