Bitwise CIO: The altcoin season is over, and the future will enter a "non-traditional" cycle

CoinWorld March 6 News, Bitwise Chief Investment Officer Matt Hougan stated that the nearly universal rally of altcoins during the “altcoin season” may not happen again. He believes that in the future, there will be a “non-traditional altcoin season,” where only assets with practical applications and genuine growth momentum will be rewarded by the market, rather than the previous trend of Bitcoin rotating into Ethereum and then into various DeFi and NFT projects. Hougan pointed out that future altcoin seasons will be more differentiated, and the market may reprice certain tokens—especially those related to large-scale businesses. He believes Bitcoin has recently started to bottom out and show an upward trend. The discussion about altcoin seasons remains divided within the industry. According to Santiment data, mentions of altcoins on social media have dropped to their lowest in two years, indicating that investors are focusing more on Bitcoin.