Ki Young Ju, founder and CEO of CryptoQuant, stated that for an altcoin season to begin, which usually follows a Bitcoin bull market, there needs to be an influx of new capital from retail traders. He pointed out that institutional investors currently have their assets tied up in exchange-traded funds and are not likely to shift their investments from major cryptocurrencies like Bitcoin and Ethereum into altcoins. Ju emphasized that the altcoin market, being below its previous all-time high, shows a lack of fresh liquidity from new exchange users. To attract this needed capital, altcoins should develop independent strategies instead of relying solely on Bitcoin's performance. Additionally, the reignition of retail fear of missing out (FOMO) is crucial, especially for smaller-cap altcoins. Indicators suggest that retail interest may be growing, as evidenced by trading activities in Ethereum futures and increased retail investments in MicroStrategy, which is seen as a Bitcoin investment vehicle.

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