Cryptocurrency markets have faced heavy losses since the October crash, eroding confidence. Although many analysts claim that altcoin season is still far away, new signs are starting to change sentiment.
In November 2025, a combination of market sentiment, technical indicators, and new liquidity inflows suggest a potential bullish cycle for altcoins will form early.
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Bitcoin dominance signals potential capital turnover
One of the most watched indicators in this context is Bitcoin Dominance (BTC.D). This indicator reflects Bitcoin’s share of the total cryptocurrency market capitalization.
According to market data, BTC.D fell in late June and has continued to decline since then. It rebounded in September, but has yet to regain its June high. At the time of writing, it was 59.94%
Nevertheless, analyst Matthew Hyland noted that the BTC.D chart remains bearish.
“BTC Dominance has been looking bearish for…weeks. A continuation of the downtrend is a good thing. So this rescue rally is a dead cat rebound in the downtrend,” Hyland wrote.
Analyst Michael van de Poppe compared the current cycle to late 2019 and early 2020. At that time, Bitcoin’s dominance first declined, briefly recovered, and then entered another major downturn.
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Van de Poppe suggests that today’s market could be at a similar tipping point. The analyst expects BTC.D to fall for the second time this quarter.
In addition to this, trader Dong pointed out a head-and-shoulders structure on the Bitcoin dominance chart, a bearish reversal signal. If this is confirmed, it is likely that dominance will further decline and capital will shift to altcoins.
“Rotation season may be closer than many think,” the trader wrote.
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Market sentiment and retailer participation
From a psychology perspective, analyst Merlin emphasized that the altcoin season begins when market distrust and sentiment are at their lowest.
“Altcoin seasons start where everyone has given up. Same base, same wedge, same distrust. This is where all previous altseasons were born. Bitcoin cools. Liquidity spins. It’s time for the real fireworks,” he said.
Additionally, the recent weekend rally in altcoins overall indicates renewed interest from retail investors. Such activity is often a sign of short-term bullishness, shifting sentiment from indifference to cautious optimism.
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New liquidity, new rise
Finally, new sources of liquidity could be an important catalyst for the upcoming wave of altcoin profits. BeInCrypto reported that the Federal Reserve plans to resume its quantitative easing program on December 1st, a policy shift that could inject significant liquidity into financial markets.
Historically, such moves have lowered borrowing costs, boosted investor confidence, directed capital toward higher-risk assets such as cryptocurrencies, and could pave the way for new momentum across the altcoin sector.
Despite some bullish signs, some analysts warn that a broader rally for altcoins may still be a long way off.
Therefore, the coming weeks will reveal whether a sustained rise in altcoins will begin in November 2025 or whether it will remain a speculative blip.
