Altcoin Season Possible? Crypto Analyst Challenges ‘No Season’ Narrative

Crypto analyst Dan Gambardello has challenged claims that an altcoin season can’t occur this cycle, arguing data points suggest otherwise. His analysis centers on the token supply landscape, where only a relatively small number of cryptocurrencies currently drive significant trading volume. Gambardello highlights a key shift in liquidity dynamics due to quantitative tightening ending in December 2025. He compares it to previous cycles, noting that historical patterns show liquidity concentration remaining predominantly within around 1,300-2,000 liquid assets across cycles.