In its weekly report, QCP Capital announced a potential new "altcoin season" in cryptocurrency markets, highlighting the surge in interest from institutional investors.
Indicators of the New "Altcoin Season"
The report noted that various altcoin season indicators surpassed the 50 level, reaching the highest level since December 2024. There was also an increase in open interest in ETH perpetual futures from $180 billion to $280 billion in a week.
Impact of Institutional Investors
QCP Capital emphasizes that institutional investors are leading this cycle rather than individual investors. This interest stems from the clarification of stablecoin regulations following the passage of the "GENIUS Act" in the US. Companies have begun incorporating layer-one blockchain assets, such as ETH, SOL, XRP, and ADA, into their financial balance sheets.
Outlook for ETH and Options Market
There could be further investment in ETH if the U.S. Securities and Exchange Commission (SEC) approves ETH staking-supporting spot ETFs. In recent days, net inflows into ETH spot ETFs have outpaced those of BTC spot ETFs. QCP also noted that bullish futures strategies in the Ethereum options market were actively opened, reflecting optimistic expectations for the fourth quarter of 2025.
QCP Capital will continue to monitor the market closely and inform investors of developments. The decline in BTC's dominance from 64% to 60% and the increase in ETH's market share from 9.7% to 11.6% may further signal a strengthening altcoin season.
