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The cryptocurrency market is witnessing the delayed arrival of an altcoin boom in the current bull cycle. Crypto exchange and derivatives trading platform Bybit has released a joint report with the market research firm Block Scholes, detailing factors that may have delayed the altcoin season and those that are likely to trigger the boom in the coming months. According to the report, potential catalysts for the next altseason include rising institutional involvement in altcoins, Ethereum outperforming Bitcoin, sustained retail interest in meme coins, and increased profit-taking among Bitcoin holders. A Delayed Altseason During such market periods, altcoins outperform major crypto assets, especially bitcoin (BTC). There is always capital rotation from BTC into smaller and riskier projects, leading to significant rallies in the value of these cryptocurrencies. Bybit said the market has seen this trend in the past three bull runs, especially in 2017 and 2021. In those times, the prices of cryptocurrencies other than BTC hit new all-time highs (ATHs). “However, one must also recognize that altseason often precedes the end of a bull run, as profit taking from large-cap tokens leads to a market correction,” Bybit noted. Investors have been anticipating an altseason in this bull run, but this cycle appears to be different. BTC continues to reach new ATHs and is dominating the market, a dynamic that is contrary to previous patterns where the asset’s dominance declines during altseason. In the past, Bitcoin’s dominance has declined approximately 230 days post-halving; however, the last halving did not trigger the expected plunge, suggesting that market behavior may have experienced a structural change. Bybit says there are several factors contributing to the state of the crypto market, and one of them is the increased institutional adoption of Bitcoin via spot exchange-traded funds (ETFs). Another factor is Ethereum’s underperformance relative to Bitcoin and other major altcoins like Solana. Traders are now doubting ether’s (ETH) capacity to lead the market into an altseason. Wen Altseason? The crypto exchange further outlined factors that could influence the onset and nature of the next altseason. For starters, BTC holders have to increase their profit-taking. This could trigger a market correction that would, in turn, lead to capital rotation into altcoins. Then, Ethereum should experience significant recovery, regain its footing, and reclaim its status as a market leader. In addition, investors need to increasingly engage with meme coins and less mainstream altcoins for the next altseason to emerge. Also, institutional interest in altcoins needs to surge; this will likely happen soon because U.S. regulatory agencies are currently reviewing applications for several altcoin ETFs. The post These Factors Could Trigger the Next Altcoin Season, According to Bybit appeared first on CryptoPotato.

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