The crypto market has recorded a slight recovery today, with the Ethereum price outpacing the Bitcoin price over the past few weeks. During writing, BTC price traded near the bay, while Ethereum price added more than 2%, indicating a potential dip in Bitcoin dominance in the coming days.
In addition, the institutional interest also appears to be shifting towards the altcoins segment from BTC. This was further evidenced by the latest fund flow data into the US Spot Bitcoin ETF and other altcoin ETFs that have received the green light recently.
The Solana ETF has recorded no outflow since its launch, with BTC ETF losing more than $1 billion this week. This shift in institutional money flow has fueled speculation that a new altcoin season may be forming.
However, analysts warn that one major risk still hangs over the market.
Altcoin Season Optimism Soars, Bitcoin Dominance in Focus
The broader crypto market has struggled lately, with Bitcoin price struggling below the $98,000 mark and ETH price at $3.1k mark. However, the massive dump in BTC price and the recent market trends have fueled discussions about whether altcoins are preparing for a broader move.
Institutional data supports this sentiment. Spot Bitcoin ETFs in the U.S. recorded over $1 billion in outflows this week, while newly approved altcoin ETFs, such as the Solana ETF, reported no outflows since launch.
On the other hand, the XRP ETF has recorded the highest volume at its debut, as compared to other ETFs launched in 2025. Having said that, investors seem to be exploring alternatives as Bitcoin cools off.
Meanwhile, the market participants are keeping close track of the Bitcoin dominance for cues on the potential future movement of the altcoins. During writing, Bitcoin dominance surged to 58.8% today, while others, excluding Ethereum, were up over 1% to 29.4%.
Analysts Reveals Key Insights on Altcoin Season
Amid the topsy-turvy scenario in the market, analyst Javon Marks noted this shift in a recent analysis. He said that the altcoin sector has once again broken out against Bitcoin, similar to early 2021.
According to Marks, the earlier breakout triggered one of the strongest phases of the previous altcoin season. He suggested the current move could set the stage for another major run.
However, not all analysts share the same enthusiasm. Market commentator Ted argued that talk of an imminent altcoin season is premature.
He warned that the broader altcoin market cap, excluding stablecoins, must reach a new all-time high before any true alt season can begin. Until then, he believes investors should remain cautious.
Bitcoin Vs. Alts: Analysts Shed Light on Historical Cycle
Analyst Daan Crypto Trades compared the current market to the 2017 cycle. He said Bitcoin’s peak that year triggered a steep drop in Bitcoin dominance and sent altcoins soaring for weeks.
Traders who missed the Bitcoin price rally piled into smaller tokens, pushing many of them up 20–30% each day. But he emphasized that today’s market is far more crowded.
Instead of a few hundred tradeable coins, the market now holds tens of thousands. In his view, this makes a wide-ranging altcoin boom less likely.
Instead, strength may appear only in select altcoins. Daan noted that Bitcoin dominance fell sharply during the latest sell-off, mainly due to Ethereum’s resilience.
He said some traders may be cautiously shifting into altcoins, expecting Bitcoin to be near a local bottom. Still, he warned that this trend will not last if Bitcoin loses support near the $94,000 level.
Source: https://www.thecoinrepublic.com/2025/11/16/is-altcoin-season-here-analyst-highlights-this-risk-to-watch/
