Ready for altcoin season? Don’t hold your breath, analysts warn.
Summary
- Bitcoin and major altcoins are gaining ground, suggesting a potential recovery
- Still, the market sentiment is likely still too weak for a real altcoin season
As investors look for signs of a renewed risk-on phase in crypto, market structure continues to favor caution over speculation. However, according to several analysts, the worst has passed, although markets are not yet ready for a full rebound and an altcoin season.
Gabe Selby, Head of Research at CF Benchmarks, highlighted nearly $4 billion in ETF outflows since October 10. The outflows have put November on track to be the worst month in institutional outflows to date.
“We’re watching Bitcoin’s first real institutional stress test play out. November 2025 is tracking as the worst month ever for ETF flows… But we see this as more profit-taking versus panic selling,” Gabe Selby, Head of Research at CF Benchmarks.
Sentiment is still too low for altcoin season: Analysts
Ignacio Aguirre, CMO at Bitget, noted the rebound for Bitcoin (BTC) and other major altcoins. This price action, he stated, may suggest the market is forming a near-term bottom rather than entering a deeper bear phase.
“The weekend rebound in Bitcoin and major altcoins can be an early indication of a broader market recovery rather than a short-lived bounce,” Aguirre said. “Recent easing in retail capitulation suggests the market may be forming a near-term bottom,” he added.
Despite the positive shift in markets, an altcoin season is unlikely. According to analysts at B2BINPAY, the market remains trapped in fear and lacks the capital rotation historically linked to altcoin outperformance.
“Sentiment is still very weak,” B2BINPAY analysts said. “After the November sell-off, the Fear & Greed Index fell below 20 and now sits near 15. That’s deep fear.”
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