Hyblock Capital CEO Does Not Expect a Return of the Altcoin Season

Hyblock Capital CEO Shubh Varma stated that the anticipated altcoin season in the crypto market may not emerge in this cycle. Varma expressed that a rally where XRP reaches $5 and DOGE hits $1 does not seem close. The altcoin season is defined by many alternative cryptocurrencies performing better than Bitcoin for a certain period. Varma mentioned that the altcoin season could begin if approximately 75% of the 100 altcoins being monitored surpass Bitcoin. However, he emphasized that such a situation has not been seen in the last one and a half to two years, and despite the increases in Bitcoin's price, a similar spread has not occurred. Varma noted that capital is now distributed among more options, the product range on crypto platforms has expanded, and this has created direct competition with altcoins. Additionally, he expressed a cautious stance towards the classic altcoin season scenario that targets $5 for XRP and $1 for DOGE. He argued that the market structure has changed and that a weakening of Bitcoin's dominance does not automatically lead to a broad-based altcoin rally.