After months of Bitcoin-led market action, traders and analysts are once again asking a familiar question: Is the altcoin season back? Signs of a shift are beginning to emerge across the charts — and across the globe. Bitcoin dominance is falling, Ethereum and other large-cap altcoins are gaining ground, and retail interest is spiking, especially in South Korea.
To top it off, even NBA legend Scottie Pippen joined the conversation, tweeting his bullish sentiment on a range of altcoins including $ETH, $XRP, $DOGE, $SHIB, and $MOG — a sign of renewed attention from outside the traditional crypto crowd.
Let’s dive into the key signals behind this potential rotation.
Bitcoin Dominance Drops Below 63% – Rotation in Progress?
One of the clearest signs of an incoming altcoin season is a decline in Bitcoin Dominance (BTC.D) — the metric that tracks Bitcoin’s share of total crypto market cap.
As of May 12, BTC dominance has dropped to 62.5%, down from 65.8% just a week ago. This steep decline suggests a rotation of capital away from BTC and toward altcoins. Historically, altseasons have often begun when BTC.D turns downward after a strong uptrend — exactly what we’re seeing now.
Source: Tradingview
This shift doesn’t mean Bitcoin is weakening. In fact, BTC is still consolidating strongly above $100K. But it does indicate that traders are now diversifying into riskier, high-upside tokens in search of bigger short-term gains.
Altcoin Season Index Rises – Still Early, But Climbing
The Altcoin Season Index from BlockchainCenter has risen to 31, up from the sub-20 levels of April. While this is still below the 75 threshold typically used to declare a true altseason, the trend is undeniably upward.
Source: BlockchainCenter
This index measures how many of the top 50 coins (excluding BTC) have outperformed Bitcoin over the last 90 days. The rising score means an increasing number of altcoins — including SUI, XRP, DOGE, SHIB, and AR — are now outperforming BTC on both the weekly and monthly timeframes.
If the index continues to rise in tandem with falling BTC dominance, we may be on the verge of a full altcoin breakout cycle.
South Korea Drives Altcoin Trading Volume – XRP and DOGE Take the Lead
While global sentiment is shifting, Asia — and South Korea in particular — is already moving aggressively into altcoins.
On Upbit, Korea’s largest exchange, XRP and DOGE recently surpassed both BTC and ETH in daily trading volume. KRW pairs for meme tokens and mid-cap altcoins have surged, with retail speculation and FOMO accelerating the rotation.
Historically, South Korea has often acted as a leading signal for early altcoin rallies, especially during the 2017 and 2021 cycles. The cultural affinity for high-volatility trading, combined with mobile-first access and 24/7 local exchanges, creates the perfect setup for altseason momentum.
Increased Korean volume is often a precursor to global interest, and this time appears to be no different.
Social Signals: Scottie Pippen Declares “Altcoin Season Is Here”
Fueling the sentiment shift, even celebrities are chiming in. On May 10, NBA Hall of Famer Scottie Pippen tweeted:
With nearly 600K views on the tweet, the message quickly spread across crypto Twitter, reinforcing the idea that retail interest is heating up — especially among newer or returning investors.
While one tweet doesn’t make a bull run, celebrity endorsement often aligns with broader retail cycles, and this one adds fuel to an already growing fire.
Final Thoughts: Altseason May Be Closer Than You Think
With BTC dominance falling, the Altcoin Season Index rising, retail traders in South Korea rotating into meme coins, and even public figures calling it out, the conditions for an altseason are rapidly aligning.
It may still be early — but that’s often when the biggest gains are made. The next 2–3 weeks will be critical in confirming whether this is just a short-term rotation or the beginning of a full-blown altcoin cycle.
Either way, smart money is watching closely. And if history repeats itself, altcoin season 2025 might already be underway.
