Matrixport Analysts Doubt the Onset of Altcoin Season

The anticipated rally in altcoins appears unlikely, with Bitcoin remaining the only reliable asset in the current crypto market, according to Matrixport.

? Today’s #Matrixport Daily Chart — June 3, 2025 ⬇️

Altcoin Hopes Fade as Bitcoin Remains the Only Safe Bet#Matrixport #Bitcoin #BTC #MarketTrends #CryptoResearch #altcoin pic.twitter.com/2pYC3Xh1a9

— Matrixport Official (@Matrixport_EN) June 3, 2025

Analysts noted that a key condition for an altcoin season is a sustained decline in the dominance of the leading cryptocurrency. However, after reaching a local low of 61.2% in mid-May, the figure has already risen to 63.3%.

Retail activity remains low, and speculative futures trading is near minimal levels, Matrixport specialists observed.

“This indicates that demand is concentrated solely on Bitcoin, particularly in spot markets rather than leveraged derivatives,” they emphasized.

Digital gold may enter a consolidation phase this summer, akin to last year. Yet, even with slow growth rates, Bitcoin currently appears to be the safest bet, the experts concluded.

Earlier, some analysts suggested the continuation of Ethereum’s breakthrough, which could provide momentum to altcoins.