- In a shocking twist, a whale trader has predicted that the altcoin season might just kick off after Bitcoin reaches its peak in June. Who knew whales could be so optimistic? 🐋
- Meanwhile, Bitcoin’s dominance is as stubborn as a mule, having strengthened to nearly 64%. Talk about a crypto diva! 💁♂️
As we saunter into Q2 2025, some select altcoins have decided to show off, posting double and triple-digit gains while Bitcoin [BTC] has gallivanted from $74K to over $100K. It’s like watching a toddler learn to walk—adorable yet slightly terrifying.
Now, with Bitcoin strutting its stuff at a new high above $111K, the ever-astute Hyperliquid whale trader, James Wynn, suggests we might soon witness a broader altcoin season. Hold onto your hats, folks!
“I do think once Bitcoin tops around $118k-$122k, we’ll see a cool-off and some sideways movement, and then this is where things get really interesting. Altcoin season.”
Wynn, who recently opened an $800 million long position on Hyperliquid (because why not?), expects Bitcoin to hit its peak in about a week. If he’s right, we might just be in for an altcoin extravaganza come June. 🎈
Assessing Altcoin Season Signals
Several early signs are pointing to a budding altcoin season, especially after a slight dip in Tether’s USDT dominance (USDT.D). This suggests that users are finally letting go of their USDT hoard to chase after those elusive altcoin gems. 💎
Interestingly, the chart above reveals that the April bounce was this cycle’s third altcoin season phase, albeit a sluggish one, focused on a few select gems. It’s like a party where only a handful of guests are actually having fun.
In every scenario, the decline in USDT dominance (marked by those ominous red lines) was followed by a run-up (green arrows) in the altcoin market size (TOTAL 3, excluding BTC and ETH). It’s almost like a game of musical chairs, but with more money and fewer chairs.
In Q2 2025 alone, the altcoin market cap added a whopping $200 billion after USDT dominance slipped from 6% to 4.3%. But alas, Bitcoin dominance (BTC.D) has flexed its muscles to nearly 64% since mid-May, causing a brief cool-off in the sector. Talk about a buzzkill!
So, for Wynn’s prediction to come true, Bitcoin dominance needs to take a little vacation.
Another barometer, the ETH/BTC ratio, is also leaning towards Wynn’s projection. Chris Burniske, a crypto VC partner at Placeholder, chimed in with:
“If $ETH keeps making moves against $BTC, then Alt season will be upon us. May all your bags moon, for a period.”
The ratio recently jumped 40%, highlighting ETH’s outperformance against BTC—a bullish cue for altcoins. If this rally keeps going, we might just see the altcoin party we’ve all been waiting for. 🎊
However, market analyst Crypto Cred has a word of caution: not all BTC profits will be funneled into altcoins. He advises traders to focus only on the top gems. Wise words, indeed!
In fact, Solana [SOL] and several other altcoins are on the brink of clearing the 200-day SMA (Simple Moving Average), which could raise the odds of a further rally. Fingers crossed!
That said, the altcoin season index is still languishing at a lowly 20, indicating that we’re still firmly in a Bitcoin season at the time of writing. But hey, anything can happen in the wild world of crypto!
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2025-05-23 19:15