Altcoin Season expectations are fading as recent indicators point to weakening momentum. While FTX’s upcoming $5 billion repayment on May 30 could inject fresh liquidity into the market, capital is shifting back into Bitcoin.

BTC dominance has rebounded, and the ETH/BTC ratio has declined, both suggesting altcoins are losing strength. The Altcoin Season Index has dropped to 25, confirming that Bitcoin remains firmly in control for now.

FTX’s $5 Billion Repayment Could Fuel June Altseason — But Momentum Is Fading

FTX will distribute over $5 billion to approved creditors on May 30, marking one of the largest single-day payouts in crypto bankruptcy history.

Many analysts believe this sudden liquidity injection could reignite altcoin momentum in June, as recipients may look to reinvest in the market.

That optimism briefly aligned with market structure—between May 7 and May 13, Bitcoin dominance dropped sharply from 65.5% to under 62.2%, a nearly 5% decline that fueled speculation that an altcoin season was underway.

However, that sentiment has sin