The co-founder of Binance, Changpeng Zhao, suggested that the long-awaited Altes-season is not yet there, because most Altcoins continue to bleed, while some market observers consider that the worst could be finished soon.
Cz says there is not yet a season of Altes
Friday, Changpeng Zhao, also known as CZ, responded to an X user asking when the Alts-Saison will occur. The founder of Binance underlined the website for monitoring prices and data from the CoinmarketCap market (CMC), which recently added an “Altcoin season index”.
CZ underlined that “of the 100 best altcoins”, very few have surpassed Bitcoin (BTC) in the last three months, suggesting that the Alts-season will not yet occur.
As the website indicates, the page of the index of the CMC Altcoin season “provides real-time information to find out if the cryptocurrency market is currently in the Altcoin season”, based on the performance of the 100 best altcoins against the flagship crypto in the last 90 days.
In this metric, an Altans season is in if 75% of the first 100 altcoins surpass the BTC during the established period. For CZ, “this is a difficult classification system”, because it considers that 50 would be a good score for altcoins.
The CMC index page shows a score of 14/100, with only 14 altcoins surpassing the BTC since early December. Some of the tokens on this list include Monero (XRM), Hyperliquid (Hype), PI (PI), Mantra (OM), Berachain (Bera) and the official Trump (Trump).
The main cryptocurrencies of 2024, such as Suis and Solana (soil), show 37% to 41% of price reductions during the last 90 days. Meanwhile, the same sensations like Dogwifhat (WIF), Pepe, Floki and Bonk bled between 70% and 80% during this period.
Analyst Michaël Van de Poppe also noted that altcoins have had a global negative performance on higher deadlines despite certain recent price rallies. “Massive green day on certain altcoins, they are up 2%! Then you zoom in and zoom in and zoom in, “he said.
The bottom of the altcoins could be close
Altcoin Sherpa said that altcoins were in “almost the same or the same” positions “during the summer of 2024, stressing that” things were also quite dark overall, then we saw strong rebounds in August “. However, he noted that, unlike last year, the market has no “Trump pump to come”.
Recently, some of the best cryptocurrencies have seen a significant increase in prices after US President Donald Trump announced a strategic reserve that includes Sol, XRP, Cardano (ADA), Ethereum (ETH) and BTC.
Nevertheless, after the executive decree of March 6 establishes a strategic bitcoin reserve and a “storage of digital assets”, the AI of the White House and the Czar Crypto, David Sacks, said that the previously named altcoins were used as references for the most precious token on the market.
Sherpa considers that the bottom of the market is close, but “we probably also have the chop period to pass” before any substantial recovery.
On the contrary, some industry figures have also commented on the overall altcoin performance this cycle, which suggests that the Alts-season has already started but will be different from previous cycles.
Recently, the founder and CEO of cryp October, Ki Young Ju, said that Alts-Season had started. He said that there will be no direct Bitcoin-to-Altcoins rotation this cycle, because the domination of the BTC is not the key measure that defines it.
For the CEO, the volume of trading is the metric that defines it this time. Ju has also stressed that it will be a very selective and difficult altes-season, with only a few altcoins with strong stories that should prosper.
