A surge of excitement for an ‘altseason’ was anticipated in early 2025, with analysts predicting a shift in market dominance and increased liquidity across various cryptocurrencies. However, this hasn’t materialized as predicted. Bull Theory has shed light on the potential reason why: the U.S. ISM Manufacturing PMI recently dropped to 48.2, falling short of expectations. This suggests that despite bullish sentiment in the crypto market, the broader economic landscape remains stagnant. 📈 📉 ➡️ What does this mean? 🧐 🧠 ➡️ The traditional manufacturing sector, which has historically served as a catalyst for altcoin seasons, might not be showing the same momentum as before. Why? Because when manufacturing activity slows down, businesses reduce hiring, consumers are less willing to spend, and risk appetite decreases. These factors heavily influence the altcoin market, making it prone to following the pace of broader economic trends. ➡️ The lack of a robust economic boost has yet to ignite a significant altseason. However, there is still hope for future developments. Bull Theory suggests several potential catalysts: rate cuts in 2026, loosening financial regulations, policy shifts, and increased liquidity across markets, could push the PMI above 50. A gradual upward trend toward the 55 level – a mark often observed during past altseason cycles – would be a promising sign for altcoin enthusiasts. While we wait to witness this shift, it’s important to remember that market cycles rarely repeat themselves exactly. ⏳ A change in the economic landscape could spark a new era of altcoins, offering further insights into the future dynamics of the crypto market.