Ki Young Ju, CEO of CryptoQuant, announced that the next altcoin season, fueled by stablecoin holders rather than a traditional profit rotation from Bitcoin, has commenced. He noted that the trading volume of altcoins is currently about 2.7 times higher than that of Bitcoin, indicating that trading volume now defines alt season rather than Bitcoin’s dominance. The correlation between Bitcoin and altcoins is decreasing, with stablecoin market capitalization reaching approximately $232 billion. Analysts suggest continued adoption of stablecoins in 2025, particularly within altcoin markets. However, challenges such as scams involving Solana-based memecoins and a decrease in capital inflows may hinder an altcoin rally. Furthermore, Bitcoin's institutional adoption is causing a separation from the broader market dynamics, as public companies have bought more than $60 billion worth of Bitcoin mainly as a hedge against inflation. This indicates that the link between Bitcoin and altcoins is becoming increasingly strained.

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