The altcoin market has experienced a significant downturn, losing $384 billion in market capitalization from October 7 to November 21, 2025. This decline is attributed to capital concentration in Bitcoin, as indicated by the Altcoin Seasonal Index. A potential altcoin rally could be on the horizon if the index surpasses 75. Despite the downturn, on-chain data shows a slight recovery in total value locked (TVL), which has increased to $119.09 billion. However, stablecoins continue to be a favored asset among investors. Historically, a de-correlation between Bitcoin and altcoin movements signals the possibility of a sustained altcoin rally.