Analysts have identified early indicators of a potential altcoin bull cycle in November 2025. Key metrics, such as Bitcoin Dominance (BTC.D), are showing bearish trends, reminiscent of market conditions in late 2019 and early 2020. Technical patterns, including a head-and-shoulders formation on BTC.D, suggest a possible capital shift towards altcoins. Additionally, psychological factors and increased retail investor activity hint at a liquidity rotation. Despite these signals, some analysts remain cautious, noting that a broader altcoin rally may not materialize until the altcoin market cap reaches a new all-time high. The current market dynamics suggest a watchful approach as investors assess the potential for a sustained altcoin surge.