Altcoin seasons are over, expect ‘non-traditional’ cycles ahead: Bitwise exec

Jeff Park, the Head of Alpha Strategies at Bitwise Asset Management, has suggested that the era of predictable ‘altcoin seasons’ may be coming to an end. Historically, crypto markets followed a linear pattern where profits from Bitcoin would rotate into Ethereum and then cascade down to smaller-cap alternative coins. However, Park argues that the current market environment has shifted toward ‘non-traditional’ cycles characterized by asset dispersion. The introduction of spot Bitcoin ETFs has significantly altered market dynamics, bringing in institutional capital that is strictly mandate-bound and less likely to speculate on high-risk altcoins. Consequently, instead of a broad-based rally where all boats rise with the tide, Park expects a fragmented market where individual tokens must prove their own value proposition. This shift means that while certain sectors like Artificial Intelligence (AI) or Real-World Assets (RWA) may see significant gains, the ‘blanket’ altcoin seasons of 2017 and 2021 are unlikely to repeat in the same fashion. Investors are now encouraged to focus on fundamental strength and specific narratives rather than waiting for a market-wide rotation that may never arrive.

Source: Altcoin seasons are over, expect ‘non-traditional’ cycles ahead: Bitwise exec