Waiting for altseason to return? Tired of seeing Bitcoin go up, but your favourite altcoin just doesn't seem to be able to keep up?

Well, according to Arca, that little event called 'altseason' may not be a stable occurrence in every crypto cycle anymore.

In the dynamic realm of cryptocurrency, the occurrence of altseason has been a subject of keen interest and discussion, especially as it may be losing steam.

Known for its lively discussions on cryptocurrency, a recent post on the Bankless forum delved into the possibilities of altseason returning in 2024, considering the sluggish performance of many top altcoins despite Bitcoin’s strong rally.

A factor that may be affecting the cryptocurrency market is the approval of spot Bitcoin ETFs, which has brought a greater focus on the flagship cryptocurrency.

However, according to Jeff Dorman, chief investment officer at Arca, that little event called ‘altseason’ may not be a stable occurrence in every crypto cycle anymore.

As major cryptos like Solana (SOL) and Dogecoin (DOGE) are closely mimicking the move of the big one – Bitcoin – smaller altcoins may struggle to keep up the pace.

Analysts Agree: ETF a Gamechanger for Crypto

Echoing this, CryptoQuant CEO Ki Young Ju said that while altseason might still be a thing, it would be different than it had been in the past.

In a post on social platform X, the analyst said that “the era of everything pumping is over”.

As per his analysis, the likely winners for 2025 are those altcoins with a looming ETF approval, projects that can generate income and those that are “sustainable attention drivers” – the rest “won’t make it”, Ju added.

According to a Bloomberg report, Cosmo Jiang, general partner at Pantera Capital, said that the ETFs have created a barrier between Bitcoin and other digital assets. He also said that most of crypto is still not easily accessible to traditional brokerage accounts “and the more that happens, the more it builds on itself, because these are momentum assets”.

“Altseason is Brewing”, Says Crypto Trader

Not everyone shares the negative sentiment though. For example, Bitcoin and altcoin trader Merlijn The Trader, anticipated on X that if current trends follow past patterns, the market could see a rise to over US$9 trillion (AU$14.4 trillion) in total market cap over the next year.

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He said the “resistance trendline” suggests a point where rising prices have previously ceased increasing, implying that if this resistance is broken, a significant upward movement in market cap could occur.