- Van de Poppe says asking “when altseason” may mean the opportunity is already gone.
- Altcoins are likely to soon benefit from macro changes such as lower rates and a weak dollar.
- The Bitcoin dominance near 64% points to altcoin rotation, with Ethereum on its way towards $10,000.
Crypto analyst Michaël van de Poppe has ignited a fresh debate in the space by saying that altseason’s best phase might not be what we’re used to. The analyst believes that most altcoins have underperformed since late 2021, and the 2024 cycle was also a matter of hype rather than structural growth. He believes this divergence signals a new form of market behavior that seemingly seeks to redefine past four-year cycle expectations.
He also added that altseason will begin when traders begin to ask, “When is altseason?” This often leads to the fact that the actual opportunity already passed. Van de Poppe, who came in during the 2017 altcoin boom, however, argues that real gains come when confidence is low, and an asset is dead in the water.
Macro Shifts Could Fuel New Cycle
He explained that altcoins are still trailing behind Bitcoin due to a persistent ‘Bitcoin season’ on the basis of investor hesitancy, alongside the tighter monetary policy. But van de Poppe notes signals are starting to form. Liquidity could be driven towards riskier crypto assets by global macroeconomic shifts in foreign policy, as central banks change their policies, the Chinese Renminbi rises, and recession worries ease.
He also ties Ethereum’s future outperformance with an aggregate bullishness of the altcoin chain with macro conditions like weakening interest rates and a falling U.S. dollar. Under these conditions, altcoins may grow with the magnitude beyond Bitcoin cycle assumptions.
Van de Poppe agrees that success doesn’t depend on being able to predict a cycle. Instead, he argues that the best investment opportunities lie with strong teams that are still building despite the negativity.
He said that timing altseason misses the point, and the edge most traders miss is investing when other traders get out. According to him, the current phase of doubt and frustration could be the best point to enter high-potential altcoins with the best risk reward.
Ethereum Set for $10K While Capital Rotates
Ethereum could reach $10,000 before the end of 2025 per Ash Crypto, and Bitcoin is expected to rise to $200,000 at some point between now and then. He noted the consolidation phase is over, and the crypto bull cycle is getting stronger. Should this shift be true, it would most likely redirect capital from top assets down to lower-cap altcoins, kicking off a broader rally.
Historical patterns back up the rotation thesis. Historically, altcoins become stronger against Bitcoin when Bitcoin dominance is high. In 2019 and 2021, an altcoin rally followed after BTC.D reached a key resistance level.
Market analyst CryptoElites also noted that Bitcoin dominance is now near 64.35, which is a level that immediately preceded the previous rapid expansion of altcoins. His analysis states that capital rotation has already started, which suggests the early stages of an altcoin breakout.
Bitcoin Dominance has reached the peak…#AltcoinSeason is about to begin very soon!
— @CryptoELlTES (@CryptooELITES) May 31, 2025$BTC pic.twitter.com/R8dYxnBZjx
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