CryptoQuant CEO Ki Young Ju explains the reasons behind the delay in the altcoin season. While maintaining a positive outlook on altcoins, he notes that only a limited number are drawing in new investments. This situation is significantly influenced by the current Bitcoin rally, characterized by high institutional demand and the popularity of spot ETFs.
The focus of capital remains on Bitcoin, which hampers the typical flow and cyclical transition of investments into altcoins. This market scenario suggests that while altcoins hold potential, they are yet to see the expected capital rotation due to Bitcoin's dominance, predominantly driven by major institutional interest.