PANews reported on March 6th, citing Cointelegraph, that Bitwise Chief Investment Officer Matt Hougan stated that the "altcoin season" characterized by widespread price increases across almost all cryptocurrencies may not return. He believes the future will see a "non-traditional altcoin season," where only assets with real-world applications and genuine growth momentum will be rewarded by the market, rather than a market driven by Bitcoin rotations to Ethereum and various DeFi and NFT projects.

Hougan points out that future altcoin seasons will be more differentiated, with the market potentially repricing certain tokens, especially those associated with large businesses. He believes Bitcoin has recently bottomed out and is trending upwards. Discussions about an altcoin season continue to be divided within the industry, with Santiment data showing altcoin mentions on social media at a two-year low, indicating that investor focus is now on Bitcoin.