While some consider the altcoins season may never come, others believe the altcoin market has changed, suggesting that a different version of the highly anticipated rally is in its early stages.
On Friday, the market recovered 15% from its multi-year lows, with most cryptocurrencies bouncing in the short-term timeframe. Amid the recent crash, investors’ sentiment has sunk to its lowest levels since 2022, with many expressing concerns about the future performance of altcoins.
Market observer Ali Martinez discussed how the long-awaited altcoin season might have started, but not in the way most investors expected. In an X post, the analyst highlighted that after Bitcoin bottomed in November 2022, a nearly three-year bull run began, which carried the flagship crypto to its October all-time high (ATH).
“During that entire period, many traders kept waiting for a traditional altcoin season: the familiar phase where Bitcoin rises and capital rotates broadly into altcoins, lifting nearly everything together,” he noted.
However, unlike a traditional alt season, the market didn’t see altcoins rally all at once this cycle. Instead, many altcoins have been simultaneously breaking down structurally, with “channels that held for years (…) failing, support levels (…) giving way, and downside expansions (…) accelerating.” To him, “we are witnessing what I would call an inverted altcoin season.”
Martinez noted the performance of cryptocurrencies like Filecoin (FIL), Polkadot (DOT), Avalanche (AVAX), and Cardano (ADA), which have either completed or started the breakdown from their macro channel supports. He considers this to be where new opportunities emerge:
For traders willing to shift their bias, this environment has created meaningful opportunities — especially on the short side. (…) What’s important is that this pattern isn’t finished playing out.
As a result, the analyst affirmed that the new inverted altcoin season is in its early stages, concluding that this cycle, it “didn’t arrive as a broad rally. It arrived as a selective unwind.”
During a Thursday panel at the Ondo Summit 2026, Bitget’s CEO Gracy Chen discussed what crypto will look like in 2030. The executive predicted that the Real-World Asset (RWA) sector will grow significantly in the next four years, with “everything tokenized.”
However, she also shared the “controversial opinion” that the highly anticipated alt season “may never come” and that altcoins could never rally all at once again, which would be “a little bit tricky” for crypto businesses, she added.
Others have previously discussed market changes and whether the “old cycles” for Bitcoin and altcoins still hold. Last year, analyst Altcoin Sherpa asserted that the crypto market is in a “hyper-accelerated regime.”
He explained that the earlier cycles consisted of euphoric, corrective, and accumulation phases before the start of a recovery phase. Meanwhile, the market now experiences short-term uptrends followed by mid-term downtrends under the new regime.
“We have 1-3 months of pump followed by 2-6 months of downtrend and rinse repeat,” he wrote. “There is no more euphoria where things go berserk for an entire year. Just 1-3 months and then down.”
Based on the new system, he advised traders not to expect 2021-like market conditions for most altcoins or a traditional Alt season. Instead, Altcoin Sherpa suggested that investors should capitalize on shorter rallies while being aware of their limited duration.
Nonetheless, he noted that, unlike previous cycles, altcoins will also recover faster and won’t take over a year to bottom and accumulate before a fresh leg up begins.
