‘Altcoin season:’ Hyperliquid whale’s prediction as Bitcoin nears $120K

• A whale dealer projected that the altcoin season momentum could choose up after BTC tops in June. 
• BTC dominance was nonetheless cussed after strengthening to just about 64%. 

The early Q2 2025 rebound noticed some choose altcoins put up double and triple-digit positive factors as Bitcoin [BTC] climbed from $74K to over $100K. 

Now, with BTC printing a brand new excessive above $111K, a renewed and broader altcoin season could also be witnessed quickly, according to famend Hyperliquid whale dealer James Wynn.

“I do assume as soon as Bitcoin tops round $118k-$122k and we’ll see a cool off and a few sideways motion, after which that is the place issues get actually fascinating. Altcoin season.” 

Wynn, who lately opened an $800 million BTC lengthy place on Hyperliquid, expected the crypto asset to hit a high in every week or so.

If validated, then the altcoin season could hit in June. 

Assessing altcoin season alerts

A number of early indicators pointed to a budding altcoin season, particularly after a slight drop in Tether’s USDT dominance (USDT.D).

This means enhancing liquidity situations as customers cut back USDT holdings for altcoin gems. 

Supply: TradingView (USDT dominance vs. Altcoins market cap) 

Notably, the above chart confirmed that the April bounce was this cycle’s third altcoin season part, regardless of being comparatively sluggish and targeting choose gems. 

In every situation, USDT dominance decline (pink strains) was marked by a run-up (inexperienced arrows) within the altcoin market measurement (TOTAL 3, excluding BTC and ETH).

In Q2 2025 alone, the altcoin market cap added $200 billion after USDT dominance slipped from 6% to 4.3%. 

However BTC dominance (BTC.D) strengthened to just about 64% from mid-Could, subjecting the sector to a quick cool-off. 

Supply: TradingView (BTC dominance vs. crypto marketcap) 

So, the BTC dominance must drop decrease for Wynn’s projection to materialize.

One other barometer, the ETH/BTC ratio, additionally leaned in the direction of Wynn’s projection, famous Chris Burniske, crypto VC companion at Placeholder, he said, 

“If $ETH retains making strikes towards $BTC, then Alt season can be upon us. Could all of your luggage moon, for a interval.”

The ratio lately jumped 40%, underscoring ETH’s outperformance towards BTC, a bullish cue for altcoins. Any prolonged rally may improve the percentages of the anticipated altcoin rally. 

Nonetheless, market analyst Crypto Cred warned merchants that not all BTC income can be rotated to altcoins. He urged merchants to focus solely on high gems.

The truth is, Solana [SOL] and several other different altcoins have been on the verge of clearing the 200-day SMA (Easy Transferring Common), elevating the percentages of an extra rally.

That stated, the altcoin season index was nonetheless low at 20, underscoring a BTC season on the time of writing.