As Bitcoin continues to dominate the crypto market, many investors are wondering if the long-awaited “altseason” will ever materialize. According to Ray Youssef, CEO of NoOnes and former CEO and co-founder of Paxful, the approval of altcoin ETFs could be the last real opportunity for alternative cryptocurrencies to regain momentum this summer, DKnews.kz reports.
“Altcoins have struggled to show sustainable growth recently, as institutional interest continues to concentrate on Bitcoin. BTC dominance remains high, and we’re seeing little rotation into other assets. As a result, hopes for a full-fledged altseason this summer are slowly fading. But the anticipated wave of ETF launches—led by Solana—might be the last chance to redirect capital into other cryptocurrencies,” Youssef said.
Currently, Bitcoin dominance hovers around 64.5%, a strong indicator that capital is still firmly parked in the original cryptocurrency. Meanwhile, the altseason index is stuck around 22, signaling that altcoins remain in Bitcoin’s shadow—even during a period of BTC price consolidation, which historically would have set the stage for altcoin growth.
“Altcoins just can’t break out of this cycle. Bitcoin dominance is hovering near its upper range around 64.5%, while the altseason index remains in 'Bitcoin territory' at about 22. Historically, during BTC consolidation phases like we've seen in recent months, altcoins would gain ground and outperform. But this time, they’ve failed to initiate any sustained upward movement,” Youssef added.
The divergence is clear in performance figures: despite Bitcoin gaining 13% in the first half of 2025, major altcoins like Ethereum and Solana have underperformed, with ETH dropping 25% and SOL down nearly 17% in the same period. Smaller, riskier tokens have fared even worse.
“This persistent divergence highlights the fact that investors continue to view Bitcoin as the primary store of value and liquidity source. Amid market uncertainty, this has pushed altcoins to the sidelines. Without significant capital rotation, it’s hard to believe altseason will arrive this year. Without new growth drivers, altcoins may remain stuck under Bitcoin’s dominance,” Youssef noted.
However, there’s a glimmer of hope on the horizon: potential ETF launches for Solana, Litecoin, and XRP. These products could open the floodgates for institutional capital and reignite interest in the altcoin space.
“With the possible launch of ETFs for Solana, Litecoin, and XRP, there’s renewed hope that these products could attract institutional demand and bring new capital flows into the altcoin sector. This ‘summer of altcoin ETFs’ might be the last real shot at shifting investor focus beyond Bitcoin and kickstarting the long-awaited rotation,” Youssef explained.
Still, he cautions that ETF approvals alone won’t be enough. A meaningful altcoin recovery will depend on additional catalysts:
“For prices to rise and investor attention to shift, ETF approvals must coincide with increased on-chain activity, developer interest, and fresh innovation—things like improved network performance and real-world use cases. Only then can we talk about a legitimate altcoin recovery and possibly a true altseason. Until then, Bitcoin’s dominance will continue to suppress the rest of the market,” Youssef concluded.
In short, this summer may be make-or-break for altcoins. Without ETF-driven momentum and broader network improvements, altcoins could remain trapped in Bitcoin’s shadow for the foreseeable future.
