Altcoin Season Predicted in Q3: Korean Crypto Survey Hints at Big Rally Ahead

The crypto market has been cautious for several months, wrestling with macroeconomic headwinds and uncertain sentiment from investors. However, we are starting to see some green shoots, particularly in altcoins. This comes at a time when Bitcoin is nearing $88,000 and slowly regaining the trust back from holders. As we contemplate the future state of the market, we also wonder about the potential of the altcoin space: Is it Altcoin Season?

According to a recent survey of Korean crypto investors, the community seems to be getting increasingly more bullish, particularly around altcoins. While Bitcoin continues to garner most of the market cap and news headlines, this surveyed group of investors believes we may be poised for a recovery and increased follow-through in the larger altcoin space, mostly go hire it before the third quarter of 2025. While there is still some fear in the market, overall, the data seems to suggest market confidence is beginning to build for a new rally.

Korean Crypto Investors Lean Toward Altcoins

The survey, which was conducted by CoinNess and Cratos, surveyed more than 2,000 Korean crypto investors. The bottom line is that there were some apparent shifts in sentiment. When respondents were asked what they thought would happen with Bitcoin trading in the short term, 33% expected the price to move higher, while 35.7% expected the price to consolidate to lower levels. Only about 31% expected the price to fall. This shows overall caution, but not complete negativity.

However, the real insight came when investors were asked about altcoins. While prices remain sluggish for many altcoins, 36% of participants expressed belief that Altcoin Season could officially kick off in Q3. Another 22% believed it might come in Q4, while 16.7% were even more optimistic, saying it might begin this quarter. This shows a clear shift from Bitcoin-centric thinking to a broader outlook across the altcoin spectrum.

Market Fear Still Persists Despite Optimism

While these findings signal budding hope, crypto market sentiment remains fragile. According to the same survey, 46% of investors admitted they still feel fear or even extreme fear in the current environment. A further 29.3% were neutral, while only 24.7% reported feeling optimistic or very optimistic.

Chart 1- Altcoin Season Index Chart, published on CoinMarketCap, April 22, 2025. 

This split shows how deeply the events of the past months have affected retail investor psychology. Between global interest rate uncertainties, geopolitical tensions, and price volatility, it’s clear that full recovery will take more than just price rebounds. But the fact that so many expect altcoins to perform in Q3 is, at the very least, a sign of growing resilience.

Altcoin Season Index Says Not Yet

Despite the enthusiasm, market data tells a more cautious story. According to CoinMarketCap, the Altcoin Season Index currently stands at just 16. This index measures how many of the top 50 altcoins (excluding stablecoins) are outperforming Bitcoin over a given period. A score below 25 suggests we are firmly still in Bitcoin season, not Altcoin Season.

Bitcoin’s recent price surge, fueled partly by its rebound after the Trump Tariff panic and continued inflows into Bitcoin ETFs, has only reinforced its dominance. Since the ETF launch in January 2024, Bitcoin has maintained over 60% market dominance, while altcoins together hold under 40%. This disparity makes it harder for an altcoin rally to kick in, but not impossible.

Analyst Insights Point to a Bullish Shift

Renowned analyst Altcoin Gordon has offered a contrasting perspective to the conservative index data. According to him, several market indicators are aligning to hint at the early stages of a broader bull market, possibly driven by altcoins. He argues that the growing gap between investor sentiment and actual altcoin performance could be the perfect setup for a sudden reversal.

Currently, Bitcoin is trading at $88,054, up nearly 3% over the past week. In contrast, altcoins like Ethereum ($1,575), XRP ($2.08), and Solana ($138.91) have all seen minor pullbacks, dropping by 0.5%, 0.3%, and 0.2%, respectively, in the past 24 hours. But if past bull cycles are any indication, altcoins typically lag Bitcoin before outperforming, often in explosive fashion.

Is Altcoin Season Coming in Q3?

It’s clear that we’re at a pivotal moment. While official indicators such as the Altcoin Season Index suggest we’re not quite there yet, investor behavior tells another story. Korean crypto investors, often early movers in global trends, are beginning to tilt their expectations toward a possible Altcoin Season in Q3.

The balance between fear and optimism is delicate, and while Bitcoin remains the king of the hill, altcoins may be gearing up for their own time in the spotlight. If the momentum continues and macro conditions remain favourable, Q3 could indeed usher in the next big chapter for altcoins, just as this growing wave of investor sentiment seems to predict.