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The cryptocurrency market shows signs that the altcoin market is about to usher in an “altseason”, a period in which altcoins significantly outperform Bitcoin. Technical charts and market sentiment are consistent, indicating that a broader altcoin rally may usher in May 2025, driven by key indicators and changes in capital flows.

Is altcoin season really here? Bitcoin’s decline in dominance, and the strong rise of altcoins and memecoins, may indicate that the altcoin market has entered a boom period. USDT’s dominance may fall to a 2022 low, indicating that capital rotation into Bitcoin and other cryptocurrencies is accelerating.

In addition, the SEC confirmed receipt of the 19b-4 application form for the spot DOGE ETF submitted by 21Shares, thereby initiating the formal review timeline for the product. This application kicks off the countdown to a final decision according to the agency's statutory timetable.

Grayscale's SOL and LTC spot ETF applications have been postponed. The new submission deadlines for both are August 11 and October 10, respectively. The SEC also postponed BlackRock's action to enable physical redemption requests for its approved spot BTC ETF. There is no updated deadline for this BlackRock application because it mainly involves technical mechanisms rather than preliminary approval.

SEC postpones approval of multiple Crypto ETFs again, Grayscale BlackRock applications wait until the end of the year On May 13, the SEC postponed decisions on multiple ETF applications related to Crypto assets, including those submitted by Grayscale and BlackRock. These delays extend the agency's review timeline, in line with market expectations that the SEC will not approve any applications until the last quarter of 2025.