Are We on the Verge of an Altcoin Season this November?

The cryptocurrency market has experienced significant losses since the downturn in October, leading to dwindling confidence among investors. While some analysts believe an altcoin season is still a ways off, emerging signals may indicate a shift in sentiment.

Key Takeaways

Market Sentiment: Experts suggest that the conditions for an altcoin season are beginning to emerge as market sentiment shifts.
Bitcoin Dominance: Current metrics imply a possible decline in Bitcoin Dominance, which may allow capital to flow towards altcoins.
Retail Interest: Recent activity indicates renewed interest from retail investors, typically a bullish sign.
Liquidity Influx: The impending quantitative easing from the Federal Reserve could inject much-needed liquidity into the market.
Caution Advised: Despite positive signals, many analysts believe we are not yet in a full-fledged altcoin season.

As we enter November 2025, various factors, including market psychology, technical indicators, and an influx of new liquidity, suggest that the groundwork for a potential bull cycle in altcoins might be taking shape.

Understanding Bitcoin Dominance: A Possible Capital Rotation

One of the key metrics to watch in this situation is Bitcoin Dominance (BTC.D), which represents Bitcoin's share of the total cryptocurrency market capitalization.

Recent data shows that BTC.D saw a decline starting in late June, with a modest rebound in September. However, it has not yet returned to the highs seen in June, currently resting at 59.94%.

Bitcoin Dominance Chart. Source: TradingView

Despite some recovery, analyst Matthew Hyland noted that the trends for BTC.D remain bearish. “The BTC Dominance…has looked bearish for many weeks. The downtrend seems set to continue; thus, this relief rally could simply be a temporary bounce in a prevailing downtrend,” Hyland stated.

Similarly, analyst Michaël van de Poppe compared the current market conditions to late 2019 and early 2020, when Bitcoin Dominance had a similar decline followed by a brief recovery before entering another significant downward phase. He predicts that we may be approaching a similar turning point today, anticipating another decline in BTC.D this quarter.

Bitcoin Dominance Patterns in 2019-2020 Vs. November 2025. Source: X/CryptoMichNL

Trader Don highlighted a potential head-and-shoulders pattern forming on the Bitcoin Dominance chart, which suggests a bearish reversal. If this signal materializes, it could result in lower dominance and increased capital flowing toward altcoins. “Rotation season might be closer than most think,” he commented.

Market Sentiment: The Role of Psychology and Retail Investors

From a psychological standpoint, analyst Merlijn pointed out that altcoin seasons often begin when market sentiment is at its lowest—essentially when everyone has given up hope. He noted, “ALTCOIN SEASON STARTS WHERE EVERYONE GIVES UP. Same base. Same wedge. Same disbelief. Every previous altseason was born here. Bitcoin cools. Liquidity rotates. It’s time for the real fireworks.”

Additionally, recent rallying activity among altcoins over the weekends indicates a resurgence of interest from retail investors. Such investment trends can often serve as short-term bullish indicators, transitioning sentiment from apathy to cautious optimism.

Injecting New Liquidity: The Catalyst for Growth

Finally, the anticipated influx of new liquidity may serve as essential catalysts for an upcoming increase in altcoin values. As reported by BeInCrypto, the Federal Reserve is expected to reinstate its quantitative easing measures on December 1, a policy shift that could significantly boost liquidity in financial markets.

Historically, such measures have led to lower borrowing costs, increased investor confidence, and reallocation of capital toward higher-risk assets like cryptocurrencies. This could create an environment conducive to renewed momentum in the altcoin sector.

Despite numerous bullish indicators, some analysts caution that a widespread altcoin rally may still be distant. For instance, trader Ted emphasized, “We are not in Altseason. Selective altcoins experiencing price increases do not indicate a true Altseason. Until the overall Altcoin Market Cap, excluding stablecoins, reaches a new all-time high, we won’t see a sustained rally in altcoins.”

As a result, the coming weeks will clarify whether November 2025 will mark the beginning of a significant altcoin rally or just a short-lived surge in speculative activities.