CryptoQuant CEO Declares Altcoin Season Amid Liquidity Scramble, But Theres A Catch

CryptoQuant CEO Ki Young Ju says "alt season," a period where alternative cryptocurrencies outperform Bitcoin, has started. He points to altcoin trading volume being 2.7 times higher than Bitcoin's. However, this alt season is different from previous ones. Instead of money flowing from Bitcoin into many altcoins, only a few altcoins are gaining, fueled by stablecoin holders, not Bitcoin traders. This means existing money is circulating within the altcoin market rather than new money entering. Some disagree with Ju's assessment, saying a few altcoins pumping doesn't constitute a true alt season. Meanwhile, China recently recalculated its M1 money supply, leading to a reported 67.59% increase. This doesn't represent new money being printed but a change in how existing money is categorized. Some speculate that this could indirectly benefit crypto markets, though others remain skeptical. While some altcoins like Sei (SEI), Sui (SUI), Zksync (ZK), and Story (IP) have seen price increases, it's unclear if these gains will last. Overall, this alt season is unusual, with altcoins performing independently from Bitcoin rather than following its lead.