The much-awaited “altcoin season” seems to be mired in a holding pattern as of April 2025. Although early-year excitement among the Bitcoin community is high, Bitcoin has maintained its remarkable climb, long shadowing the altcoin market. Although cryptocurrencies have shown areas of strength, they have mainly struggled to exceed Bitcoin; the measures usually used to indicate an altcoin season remain modest.
Bitcoin’s Dominance Remains Firm
Rising above 55%, its highest level since early 2021, Bitcoin’s market dominance measures its market capitalization against the entire crypto industry. This rise captures the strength of Bitcoin as well as the relative underperformance of most altcoins.
There are several main reasons why Bitcoin is showing a positive trend. First, the approval and effective introduction of several U.S.-based Bitcoin ETFs in Q1 2025 has sent institutional money into the market in great force. These ETFs attract a broader spectrum of investors who have hitherto stayed away due to security or regulatory concerns by providing controlled, easily accessible exposure to Bitcoin.
Second, the most recent halving of Bitcoin in late March 2024 still has consequences. Halvings have historically led to notable price hikes in the year following an incident. Rising demand, paired with a supply shock, has maintained increasing pressure on BTC prices.
Furthermore, Bitcoin’s reputation remains unchallenged as a “digital gold”. Investors tend to prefer Bitcoin over more speculative altcoins during periods of macro-level volatility or economic uncertainty, such as when the Fed alters interest rate policies or geopolitical tensions escalate.
Altcoin Season: Still on Ice
Generally speaking, an “altcoin season” in the crypto cycle is marked by altcoins consistently outperforming Bitcoin. To spot these trends, metrics like the Altcoins Season Index are often referenced, which measures the percentage of top-50 altcoins outperforming BTC over the past 90 days. Currently, the index typically stays below the 75% mark, usually signifying a real altcoin season.
Often, the top alternative coin, Ethereum, has trailed behind Bitcoin in percentage increases for most of 2025. Although Ethereum is constantly evolving—especially with Layer 2 scaling solutions and the forthcoming “Purge” phase of its roadmap—its gains have been modest in comparison to Bitcoin’s explosive climb.
Although they have lately traded sideways, several major cryptocurrencies, such as Solana, Cardano, and Avalanche, have exhibited moments of breakout potential. Often seen dramatic expansion during cryptocurrency seasons, speculative memecoins have also failed to provide ongoing momentum.
A Delayed But Not Canceled Altcoin Season?
Although it might seem that altcoin season is being eternally postponed, history shows that capital usually moves into altcoins once Bitcoin’s supremacy peaks. Many regard this phase as the “altcoin catch-up period.” Some experts believe we are approaching that time, possibly in Q2 or Q3 of 2025.
The Bitcoin Dominance chart is one indication that traders are paying great attention to. Should this indicator start to invert or flatten, it would suggest that the relative strength of cryptocurrencies is growing. Other indicators include increasing trading volumes in altcoin pairs, improved risk sentiment across the market, and the emergence of strong narratives surrounding specific sectors, such as AI-focused cryptocurrencies, gaming tokens, or decentralized identity protocols.
On shorter time frames, some lower-cap altcoins in narrow ecosystems have begun to outperform BTC quietly; this trend hasn’t yet extended to the broader market. Before cryptocurrencies have the breathing space they need to start their bull runs, BTC consolidation could take some time.
Final Thoughts
Although Bitcoin remains the most widely used cryptocurrency in early 2025. The altcoin season that many investors had expected has yet to materialize. Macroeconomic uncertainty, strong institutional demand, and legal hurdles have kept capital mainly focused on Bitcoin.
However, the crypto market swings are historically erratic; therefore, altcoin seasons sometimes appear when least expected. Currently, the best tactics may be patience and cautious observation, as the cryptocurrency spring could be just a consolidation away.
