While Bitcoin (BTC) was breaking records in 2025, investors were anticipating a major altcoin season afterward.
However, the altcoin season that many investors were expecting did not materialize, despite major altcoins like Binance Coin (BNB), Solana (SOL), and Hyperliquid token (HYPE) reaching individual all-time highs.
Investors may not find what they’re looking for this year either. CryptoRank, one of the leading cryptocurrency analysis platforms, stated in its latest analysis that a major altcoin surge in 2026 seems unlikely.
According to its latest analysis, CryptoRank X assessed that a large-scale altcoin bull market similar to those seen in previous cycles is unlikely to occur in 2026.
The analytics company listed the main obstacles to an altcoin season, stating that these obstacles also prevent an altcoin season in 2025.
These were identified as the dispersion of liquidity, the token economy (many projects launch with a low circulating supply but a high fully diluted valuation), altcoins having to compete with new investment vehicles, and the concentration of institutional capital in one place.
The analysis firm noted that traders who used to drive the altcoin market are now turning to alternative investments like memecoins and perpetual futures contracts. This is hindering the overall altcoin season, causing rallies to remain more specific.
Another obstacle comes from institutional investors. These investors focus on major assets like Ethereum (ETH), SOL, and XRP, and mostly take positions through ETFs.
In other words, the majority of new capital is flowing into the largest and most liquid altcoins. As a result, medium and small-sized altcoins are not receiving widespread investor interest, making their recovery and the prospect of a major altcoin season much more difficult.
*This is not investment advice.