Bitget COO Predicts No Broad Altcoin Season Amid Bitcoin Dominance and Lack of Innovation

Executive Summary

Bitget Chief Operating Officer Vugar Usi Zade has stated that a broad altcoin season, characterized by widespread rallies across numerous digital assets, is unlikely this cycle. This assessment, delivered at the Token2049 conference in Singapore, attributes the market condition to a perceived absence of significant technological advancements within the altcoin sector and a distinct decoupling of Bitcoin (BTC) from the broader altcoin market. The commentary suggests future crypto market rallies will likely be driven by specific, popular narratives rather than general market movements.

The Event in Detail

Vugar Usi Zade of Bitget articulated that the crypto market is unlikely to experience an "altcoin season" where "everything will go up." He expressed a firm stance against the notion of a broad market pump for altcoins, citing a lack of logical reasoning. Usi Zade noted, "There haven't been any technological advancements. We haven't seen any big things coming out of projects." He further observed that the crypto market is "moving very much away from seasons," with more frequent, shorter cycles. Critically, he highlighted that Bitcoin has decoupled from altcoins, stating, "Bitcoin is its own rally; its impact is almost zero on the rest of the market," and "Money is not flowing from Bitcoin down to the alts."

Market Implications

Bitcoin's growing outperformance has created concerns regarding the viability of a widespread altcoin season. Data from TradingView indicates that Bitcoin's share of the crypto market has substantially surged. The ETH/BTC chart, for instance, has fallen to 0.0281 BTC, marking a four-year low against Bitcoin, reflecting escalating price weakness for Ethereum and other major altcoins such as DogeCoin (DOGE), BNB, and Cardano (ADA). This trend suggests a significant shift in market dynamics. The current environment mirrors a "musical chairs" risk for underperforming assets; only projects demonstrating product-market fit, sustainable economics, and user adoption are likely to maintain investor confidence. Consequently, many experts are now recommending newcomers to allocate solely to Bitcoin, departing from the previously common portfolio strategy of 70% Bitcoin and 30% Ethereum.

Expert Commentary

Usi Zade anticipates that future crypto rallies will be based on "popular narratives," leading to gains primarily for tokens involved in trending sectors. Examples of such narratives include Real World Assets (RWA) and AI agents. The tokenization of Real World Assets, encompassing treasuries, real estate, and commodities, is projected to gain traction by bridging traditional finance (TradFi) and decentralized finance (DeFi), enhancing liquidity, enabling fractional ownership, and expanding investment access. AI-related crypto tokens held a combined market capitalization of approximately $5.2 billion as of early 2025, with AI-powered agents expected to become autonomous financial actors managing DeFi strategies. Furthermore, Dr. Chengdiao Fan, co-founder of Pi Network, at TOKEN2049 Singapore, emphasized the necessity for crypto to transcend speculation and deliver real-world utility, stressing the importance of building tools and innovations that matter in practical applications. This perspective aligns with a "barbell strategy" for investors, involving a core Bitcoin position augmented by selective allocation to altcoins with verifiable traction.

Broader Context

The current altcoin market in 2025 is characterized as maturing and fragmented, a departure from the "free liquidity and speculative exuberance" observed in previous cycles. This competitive and filtered environment necessitates a focused approach from investors and builders. While the market reset is not a cause for despair, it mandates adaptation to new realities. The long-term outlook for altcoins is selectively optimistic, favoring projects with clear product value, strong development teams, and tangible real-world adoption. Success in this evolving ecosystem will derive from identifying these breakout projects rather than expecting a broad, market-wide rally for all digital assets.