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PMI Collapses, Altcoin Season Buried! Investors Shocked
Source: TokocryptoBlog
Original Title: PMI Collapses, Altcoin Season Buried! Investors Shocked
Original Link:
The 2025 crypto market cycle has once again shocked investors. Recent data shows that altcoin dominance actually moves in tandem with a key US economic indicator, the US ISM Manufacturing PMI. With the PMI at 48.2 in November 2025, analysts conclude that this is the main reason for the absence of an altseason this year, while Bitcoin has continued to dominate the market.
Altcoins Plunge Alongside PMI
Analysis from Crypto Rover shows that since 2019, the altcoin dominance chart has had a pattern very similar to the PMI movement.
This trend is clearly visible again in 2025.
PMI at 48.2 and Bitcoin Controls 59% of the Market
The November 2025 PMI recorded a figure of 48.2, indicating the US manufacturing sector is still contracting. This coincides with Bitcoin’s dominance reaching 59%, leaving altcoins struggling to attract new capital.
Analysts from various platforms note that unstable macro conditions are driving investors toward Bitcoin, while altcoins are seen as too risky in an economy that has yet to recover.
Hopes for a New Altseason: Waiting for PMI to Recover in 2026
If the historical cycle repeats, a new altseason could emerge in early 2026, provided that:
For now, the macro environment continues to support Bitcoin’s dominance.
Altcoin Season Index: The Market Still Belongs to Bitcoin
The Altcoin Season Index shows a score of 19/100, indicating the market is still in a Bitcoin Season phase.
These numbers show that most altcoins have underperformed compared to Bitcoin over the past 90 days.
2025 is not the year of an altcoin revival. With the PMI still in contraction territory, capital flows continue to favor Bitcoin as the perceived safe asset. Investors are now waiting for a global economic recovery that could potentially reopen the door to an altseason in 2026.