CZ Highlights Absence of Altseason as Most Altcoins Underperform Bitcoin
CZ Says There’s No Altseason Yet
Changpeng Zhao, Binance co-founder, stated that the anticipated Altseason has not arrived. He referenced CoinMarketCap's (CMC) new “Altcoin Season Index,” indicating minimal outperformance of altcoins against Bitcoin (BTC) over the past three months.
- Only 14 of the top 100 altcoins have outperformed BTC, according to CMC, which shows a score of 14/100.
- Leading cryptocurrencies like SUI and Solana (SOL) have seen price declines of 37% to 41% in the last 90 days.
- Memecoins like dogwifhat (WIF), PEPE, FLOKI, and BONK dropped between 70% and 80% during this period.
- Analyst Michaël van de Poppe noted overall negative performance for altcoins despite some recent rallies.
Altcoins Bottom Could Be Near
Analyst Altcoin Sherpa suggested the market may be nearing its bottom, referencing similar conditions during the Summer 2024 retrace but noted the absence of a significant market catalyst like last year's "Trump Pump."
- Recent statements by President Trump regarding a strategic cryptocurrency reserve did not lead to sustained price increases.
- Sherpa anticipates a challenging recovery phase before any significant upward movement.
- Ki Young Ju, CEO of CryptoQuant, believes that the Altseason has already begun, emphasizing trading volume as the defining metric rather than Bitcoin dominance.
- This cycle is expected to favor only a few altcoins with strong narratives.
