Bitget COO: No Rally for Altcoins on the Horizon as Bitcoin Dominates

The cryptocurrency market is unlikely to see another broader rally for altcoins where all tokens rise together, according to Vugar Usi Zade, chief operating officer of global exchange Bitget. Speaking at the Token2049 conference in Singapore on Wednesday, Usi Zade said the current market dynamics point to Bitcoin taking the lead while altcoins remain sidelined.

“I don’t think there will be an altseason,” he said in a recent interview. “The idea that everything will go up simply because it’s altseason—we won’t see that, and I’m very firm in that.”

He argued that without new technological breakthroughs or groundbreaking developments from projects, there is no logical reason for altcoins to rally in unison. “Why would the price go up? Just because now it is the time? It’s not,” he said.

Bitcoin Decouples From Altcoins

Historically, altcoins have tracked Bitcoin’s momentum, often rallying even harder when the flagship cryptocurrency surged. But Usi Zade said that dynamic has shifted. “Bitcoin is its own rally; its impact is almost zero on the rest of the market,” he noted. “Bitcoin decoupled not only from the stock market, but it also decoupled from altcoins.”

He pointed to multiple instances where Bitcoin trades in the green while most of the crypto market remains in decline, suggesting money is no longer flowing from Bitcoin into smaller tokens. Instead, market cycles appear shorter and are increasingly narrative-driven.

“Today, we talk about real-world assets [RWAs]; probably there will be a portfolio of RWAs going up, but that doesn’t extend to anything else,” Usi Zade explained.

Market Faces Sustainability Challenge

Usi Zade also criticized the short-term mindset of crypto investors, who often expect projects to deliver profits within months. “It took Amazon more than 10 years to become profitable, and now we want a crypto venture to do that in eight months,” he said.

Unlike traditional startups, where early investors can pass stakes to other venture firms, crypto tokens are usually available to retail investors from the start. This creates pressure to maintain token prices. “When your price reaches virtually zero, your project is dead, and there’s almost no way to bring it back,” he warned.

As a result, many industry figures now recommend newcomers stick with Bitcoin only, abandoning the once-common 70/30 split between Bitcoin and Ether. “Now, no one tells you Bitcoin and Ethereum anymore,” Usi Zade said.

While Bitcoin currently controls about 58% of the crypto market, Ether holds 12%, up slightly from multi-year lows earlier this year. Still, with Bitcoin’s year-long rally, Usi Zade suggested Ethereum is losing investor momentum.