Top analyst CryptosRUs says altseason is “postponed, not cancelled” due to ongoing quantitative tightening. The final quantitative tightening slowdown is expected next month, and a rate cut in December will unleash fresh liquidity and accelerate the decline of Bitcoin dominance (BTC.D).
Historical Altseason Index charts show that every major altcoin rally began only after Bitcoin dominance rolled over hard.
The Current Landscape for Altcoins
In a post on November 29, 2025, which quickly surpassed 55,000 views, influential YouTuber and trader CryptosRUs (@CryptosRUs) addressed the growing narrative that altseason is “cancelled forever.” He stated, “A lot of people expected an altseason just like 2017 and 2021. So the big question became: are altcoins dead? The answer is no, macro simply hasn’t allowed the rotation yet.”
His attached chart, credited to Merlijn the Trader, illustrates the relationship between Bitcoin dominance and altcoin rallies. The Altcoin Season Index truly ignites only after Bitcoin dominance (BTC.D) puts in a clear lower high and begins a steep decline. Currently, BTC.D is still consolidating along the upper trendline that has capped every major altcoin run since 2021. The missing ingredient for an altcoin surge is liquidity.
The Role of Macroeconomics and Liquidity
CryptosRUs explained that “Quantitative tightening and reduced central bank liquidity have made it harder for capital to spill into smaller-cap, high-risk assets. That’s why the altseason everyone expected never fully ignited.”
However, the macroeconomic calendar is poised for a shift. The Federal Reserve’s final quantitative tightening taper is widely anticipated at the December meeting, with markets already pricing in a 25 basis points rate cut on the same day. Historically, a return of real liquidity has led to a significant drop in Bitcoin dominance and a rapid rotation of capital into altcoins within weeks.
“QT could end as early as next month, and another rate cut is expected in December. When liquidity returns, rotations can accelerate fast,” he noted.
On-Chain Data and Future Outlook
On-chain data supports this optimistic outlook. Retail on-chain volume remains near cycle lows, while whale and institutional Bitcoin accumulation has slowed. This pattern is classic pre-rotation behavior, observed in early 2021 and late 2024.
For now, patience is advised. CryptosRUs concluded, “As retail panics, whales quietly accumulate during this opportunity.” If the December policy pivot occurs as expected, the same chart that currently indicates an “delayed” altseason could soon signal an “explosive” one. The anticipated 2025 altcoin run is not cancelled; it is merely awaiting the Federal Reserve to initiate the conditions for its launch.