Altcoins Remain Dormant: Is the Market Waiting for a Signal?

Deutscher’s recent analysis reveals that while Bitcoin has seen significant gains, altcoin season hasn’t materialized yet. He points to a lack of explosive growth in previous bull markets – particularly 2017 and 2021, where returns soared from 1,000% to 10,000% – as evidence for this trend. This cycle has shown modest surges only in April and late 2024. He highlights several factors explaining the muted altcoin performance: macroeconomic headwinds, increased institutional Bitcoin demand, Ethereum’s lagging behind Bitcoin, and a decline in retail investor participation due to high-profile crypto collapses like TerraUSD and FTX.