- The cryptocurrency market is showing renewed excitement after a period of caution, with signs of an upcoming altcoin season as early as November.
- Bitcoin dominance (BTC.D) has slipped to approximately 59.93%, indicating a possible shift of funds into altcoins.
- Analyst Matthew Hyland points out that the bearish trend in Bitcoin’s dominance could lead to altcoins reclaiming market attention.
- Historical comparisons by Michaël van de Poppe suggest that the current patterns mirror those seen in late 2019 and early 2020 before altcoins surged.
The cryptocurrency market appears to be entering a phase of renewed excitement after several months of caution and slowed momentum. A subtle yet meaningful shift is occurring beneath the surface, and traders across various platforms are beginning to take notice. Key on-chain signals, market sentiment trends, and chart patterns are now suggesting that an altcoin season may be approaching as early as November. While no major rally has fully taken hold yet, groundwork for significant volatility and price movement appears to be forming. At the center of this shift lies Bitcoin dominance (BTC.D), a well-known metric that measures the percentage of the total crypto market value held by Bitcoin. Historically, Bitcoin dominance rises during periods of uncertainty, when traders prefer the most well-established asset in the market. However, when confidence returns and risk appetite grows, capital tends to rotate from Bitcoin into smaller, more speculative digital currencies referred to as altcoins. In other words, when Bitcoin dominance falls, altcoins often outperform.
Currently, Bitcoin dominance has slipped to roughly 59.93%, which is a notable decline from the highs seen earlier this year. While this number is still relatively strong, analysts interpret the downward trend as an early signal that investors may be preparing to shift funds into alternative cryptocurrencies. This shift does not happen overnight; instead, it forms gradually, as traders reassess the landscape and begin to take calculated risks. This potential rotation is not just an isolated pattern on a chart. It is tied closely to trader psychology, macroeconomic policy expectations, and evolving confidence in blockchain ecosystems. The developing scenario has drawn attention from analysts across the crypto sector, who are pointing to several familiar signs that are consistent with previous altcoin seasons.
Bitcoin Dominance Shows Signs of Weakening Momentum
Financial analyst and market watcher Matthew Hyland has been particularly vocal in his assessment of current trends. According to Hyland, the BTC dominance chart appears bearish, indicating that Bitcoin’s market share could continue to shrink in the near term. He noted that while Bitcoin remains the largest and most influential digital asset in existence, “the strength behind its dominance trend has noticeably faded.” Hyland added that what many assume to be a short-term pullback might actually be part of a longer downtrend.
In more simple terms, even though Bitcoin continues to attract institutional and retail investors, the enthusiasm driving its dominance is cooling. This cooling effect could open the door for altcoins to reclaim market attention and benefit from renewed liquidity. Hyland’s concerns align with broader observations among traders who have observed a steady weakening in Bitcoin’s lead across various market cycles. Historically, when Bitcoin loses its grip on dominance, altcoins experience accelerated growth — often in dramatic fashion. Therefore, Hyland’s remarks are being carefully watched by investors seeking opportunities for higher-risk, higher-reward positions.
Historical Comparison Suggests Pattern May Repeat
Another respected voice in the space, analyst Michaël van de Poppe, has compared current conditions to those seen in late 2019 and early 2020. During that period, Bitcoin’s dominance showed a similar sequence of decline, rebound, and continued drop before altcoins surged. According to van de Poppe, history may be repeating itself. He explained that market cycles often echo past behavior, especially when investor psychology and economic conditions align. Van de Poppe predicts that Bitcoin’s dominance could fall again before the end of this quarter, creating the ideal environment for altcoins to gain momentum. If this scenario unfolds as expected, traders could see meaningful shifts in price action across mid-cap and low-cap coins, especially those with strong utility and active development teams. This comparison has gained traction among professional traders, who often look for cyclical patterns to predict future market movements. The similarity between these two market eras suggests that altcoin season could be more than speculation — it may be building naturally.
Chart Patterns Support Potential Trend Reversal
Well-known trader Don pointed out the presence of a head-and-shoulders pattern forming on the Bitcoin dominance chart. This chart pattern is widely recognized in technical analysis as a signal of an upcoming reversal. If the pattern fully develops, it could signal a shift in capital from Bitcoin into altcoins, marking the beginning of a rotation phase. Don suggests that rotation season may arrive sooner than many traders expect. In his perspective, too many traders assume Bitcoin will continue to dominate indefinitely, which creates an opportunity for those paying close attention. When the market is generally not positioned for change, those who anticipate it can act before the crowd — often leading to stronger returns.
Investor Psychology and Market Sentiment Fuel the Shift
Market psychology is a powerful driver of cryptocurrency behavior. Analyst Merlijn highlights an interesting trend: altcoin seasons typically begin when confidence is low. This counterintuitive phenomenon occurs because market participants tend to underestimate recovery just before it begins. Merlijn references a long-term wedge pattern that has been forming over time. Historically, when Bitcoin hits the lower boundary of such patterns, money rotates into altcoins, sparking significant rallies. He emphasizes that this same pattern has preceded every major altcoin surge in the past, including those in 2017, 2021, and shorter rallies in between. More simply, when Bitcoin’s momentum slows down, investors look for alternatives with stronger upside potential, and the altcoin market becomes an attractive playground.
Weekend Trading Activity Suggests Retail Traders Are Returning
Recent weekend trading behavior also supports these signals. Several altcoins posted unexpected gains, indicating renewed activity among retail traders, who often lead the early phases of market trend reversals. In previous cycles, early signs of strength in altcoins during low-volume periods (such as weekends) were later followed by broader market-wide rallies. This return of smaller, individual investors suggests that confidence is beginning to recover. When retail traders become active again, trading volume increases, volatility rises, and opportunities multiply.
Monetary Policy Could Accelerate Market Activity
In addition to chart-based and psychological indicators, macroeconomic policy is also expected to influence market movement. The U.S. Federal Reserve is reportedly preparing to restart quantitative easing (QE) on December 1, which could reduce borrowing costs and stimulate investment across numerous financial sectors. Quantitative easing generally leads to greater liquidity, meaning more capital becomes available for risk-heavy assets — including cryptocurrencies. When money is easier to borrow or invest, markets like crypto tend to benefit from an inflow of speculative capital, driving prices upward. If QE does resume as predicted, traders anticipate a strong surge in market activity, potentially reinforcing the emerging altcoin rotation.
The cryptocurrency market is showing renewed signs of life after a period of consolidation. Bitcoin dominance is declining, analysts see historical patterns repeating, and trader psychology appears primed for rotation. If these signals continue to develop, an altcoin season may emerge as early as November, offering traders fresh opportunities across the digital asset landscape. Though uncertainty remains, conditions suggest that the market may be entering a new and potentially dynamic phase.
Disclaimer: CryptopianNews shares this for learning and info only. It’s not meant to be financial or investment advice. Crypto markets change a lot and move quickly. Investing in them can be risky. You should always look into things yourself. Talk to a trained financial advisor before making any choices about investing.
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