Altcoin Season Could Heat Up in June and Drain Part of Bitcoin's $2T Market Cap, Analyst Says
Bitcoin's (BTC) dominance rate has dropped notably this month, sparking hopes for a full-blown alt season or period where the bull market spreads beyond BTC, lifting valuations in other sectors of the digital assets market.
Joao Wedson, CEO and founder of crypto data analysis platform Alphractal, expects a full-blown alt season to unfold in June.
Bitcoin's dominance rate, which measures the leading cryptocurrency's share of the total digital assets market, has dropped from roughly 65% to 62% in one week, ending a prolonged five-month uptrend, according to data source TradingView.
During the same time, the total crypto market capitalization has increased from $2.90 trillion to $3.24 trillion.
The contrast suggests a shift in investor interest from bitcoin toward alternative cryptocurrencies.
Per Wedson, the altcoin season is already underway and the BTC dominance is expected to decline rapidly in the coming months. Wedson's proprietary altcoin season index, which focuses on select 57 altcoins, shows 37 of those coins have outperformed BTC in the past 60 days.
"Even if BTC drops in the coming weeks, most altcoins have already bottomed out, and it's unlikely they'll fall below recent price levels. Part of bitcoin's $2 trillion market cap is likely to flow into altcoins. So make sure to analyze your altcoin against BTC pairs (e.g., ETH/BTC or COTI/BTC)," Wedson said on a detailed post on X.
However, broader measures suggest the bull market has yet to expand beyond BTC. For instance, CoinMarketCap's altcoin index, which focuses on top 100 coins, remains stuck at 27 to suggest "bitcoin season."
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
19 minutes ago
- Yahoo
Can you still make money with Bitcoin?
(NewsNation) — Bitcoin is often hailed as digital gold, and on social media, it can feel like a modern-day gold rush. On TikTok, crypto-influencers hype up lavish lifestyles, interviewing self-proclaimed Bitcoin billionaires surrounded by luxury cars. Bitcoin, a form of digital currency that can be traded online without relying on traditional banks, has skyrocketed in value since its humble beginnings in 2009. One Bitcoin is currently worth around $110,000 — roughly quadruple its value just two years ago. So is it too late to get in on the action? Here's what to know. 'Why It's Not Too Late To Buy Bitcoin' (YouTube) 'Bitcoin: The Ultimate Wealth Storage!!' (TikTok) 'Meet the Youngest Bitcoin Billionaire $100,000,000 car collection' (TikTok) When it comes to cryptocurrency, Bitcoin is the biggest name in town and it's not even close. With a market cap of over $2 trillion as of this writing, Bitcoin is more valuable than Costco, Walmart and Netflix combined. Like stocks, the value of Bitcoin fluctuates from one day to the next. Are ChatGPT-written children's books an easy side hustle? Buying and selling Bitcoin is fairly straightforward. You can purchase a Bitcoin (or fractions of a Bitcoin) with U.S. dollars through an online cryptocurrency exchange like Coinbase or a more traditional investment broker like Robinhood. That transaction is recorded on the blockchain — a decentralized, secure digital ledger that isn't controlled by banks or governments. 'There is truly revolutionary technology underlying these cryptocurrencies, including Bitcoin, that allow money and value to flow outside of a government-sponsored fiat currency,' said Jennifer Schulp, director of financial regulation studies at the Libertarian-leaning Cato Institute. That said, Schulp worries influencer buzz could do more harm than good for digital assets in the long run. 'Viewing it all as, 'how do you make a buck in the quickest way possible' is not beneficial to the long-term innovation that can be seen from this space,' she said. The price of Bitcoin could go up or down. Nobody knows. That's true of other investments like stocks or gold, but Bitcoin has a few additional risks. Historically, it's been more volatile than traditional asset classes. Bitcoin has gone up over the long run, but price swings have been the norm, not the exception. If you bought Bitcoin at its November 2021 high, your investment would have been worth roughly half as much about three months later. On the other hand, buying in early Feb. 2024 would have resulted in a significant gain after only a month — about 60%. At times, those fluctuations have been more a reflection of crypto-enthusiasm than so-called 'market fundamentals,' the tangible economic indicators investors use to gauge the stock market. In that sense, Bitcoin requires investors to pay attention. Making fast money on vending machines: Is it that easy? 'I don't think it's just a set it and forget it investment because of its volatility, because of all the different macro factors influencing it,' said Bryan Armour, director of passive strategies research at Morningstar. It's worth noting that Bitcoin has been less volatile than many individual stocks, even popular names like Meta, Nvidia and Tesla, according to a Fidelity Digital Assets analysis in 2024. Bitcoin has only been around for 16 years, while the New York Stock Exchange dates back hundreds of years. With time comes information. Investors can look at previous economic cycles and know with some confidence where stocks are headed in the future. Since its introduction in 1957, for example, the S&P 500 has delivered an annual average return of around 10%. Bitcoin has done even better over the past decade, averaging an almost 50% annual return, but there's no guarantee that success will continue. 'Predicting where [Bitcoin] is going to go when there's an economic shock, I think we just don't know yet,' Schulp said. And unlike stocks, which represent ownership in real companies, Bitcoin isn't backed by physical assets. Its value comes from scarcity, hence the comparison to 'digital gold.' But even that analogy is imperfect. Gold is something you can hold and the world's most powerful governments keep it in strategic reserves. That could happen with Bitcoin, but it hasn't unfolded in the same way yet. The U.S. doesn't have a clear regulatory framework for digital assets, though several cryptocurrency bills and regulations are in the works. 'Part of the risk of it is that it's unknown how these things are going to be regulated five years from now versus one year from now,' Armour said. Is meme coin crypto the key to get rich quick or another scam? Bitcoin investors are optimistic that the Trump administration will be positive for the crypto industry, with Trump poised to be the most pro-crypto president ever. Even so, the ongoing uncertainty makes crypto a risky investment. Ray Dalio, a prolific investor, called Bitcoin 'one hell of an invention' back in 2021, but cautioned: 'I suspect that Bitcoin's biggest risk is being successful, because if it's successful, the government will try to kill it and they have a lot of power to succeed.' In 2023, Dalio said he has 'a little bit' of crypto in his portfolio but acknowledged the risks: 'I've seen people get very rich and I've seen people get very broke with it.' Other big-name investors, like Warren Buffett and Jamie Dimon, have been vocal critics of crypto over the years. Most Americans remain skeptical for now. Roughly six-in-ten (63%) say they have little to no confidence that current ways to invest in, trade, or use cryptocurrencies are reliable and safe, according to Pew Research. Overall, just 17% of U.S. adults have ever invested in, traded or used a cryptocurrency, Pew found. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
26 minutes ago
- Yahoo
How Glassnode's data revolution empowers wealthy investors
How Glassnode's data revolution empowers wealthy investors originally appeared on TheStreet. Are you leaving millions on the table in the crypto market? For high net-worth individuals and family offices, the digital asset space can feel like a gamble—complex, risky, and opaque. Enter Glassnode, the leading blockchain data and intelligence platform trusted by top hedge funds, banks, and traders worldwide. With cutting-edge on-chain analytics, Glassnode turns the crypto market from a black-and-white snapshot into a vivid, 3D masterpiece, revealing opportunities and risks others miss. Daniel Blackmore, Glassnode's Chief Commercial Officer, explains how their data-driven insights are helping traditional investors conquer crypto with confidence—and rake in alpha. Daniel Blackmore's journey to Glassnode started in the high-stakes world of traditional finance. 'I spent most of my career in banking as an interest rates trader and salesperson, dealing with hedge funds, sovereign wealth funds, and banks,' Blackmore shared. Frustrated by manual processes that screamed for automation, he saw blockchain and smart contracts as the solution. This led him to Coinbase Institutional, where he worked with financial giants, before joining Glassnode to tackle a bigger challenge: making crypto markets transparent and actionable. 'Glassnode is helping trading institutions, investors, and researchers form a view on digital assets and act upon it,' Blackmore explained. The problem? Most investors rely on outdated, traditional datasets—spot prices, ETFs, futures—that leave them blind to crypto's unique dynamics. Glassnode's on-chain data reveals what's really happening under the hood, from capital flows to investor behavior, giving users an edge in a market where billions have been lost to poor decisions. For high net-worth individuals, crypto can seem like a leap into the unknown. Blackmore gets it. 'They're using traditional approaches, which do fine, but they're leaving money on the table,' he said. Conventional data like market prices or ETF flows shows only half the picture—it's like trading in 2D. 'When you add on-chain data, it's like seeing things in color or in 3D,' Blackmore emphasized. Imagine tracking money moving from wallet to wallet, identifying whether it's a hedge fund or a retail trader, a long-term holder or a short-term speculator. Glassnode's analytics—covering Bitcoin, Ethereum, DeFi, and more—let you see capital flows, investor psychology, and market sentiment in real time. For example, their recent Q4 2024 report with Fasanara Digital highlighted Bitcoin's surge to $90K and ETF inflows, pinpointing where smart money is moving. This isn't guesswork—it's data-driven alpha that helps you outsmart the market. What's holding TradFi investors back? 'The biggest thing crypto-native people forget is how deep in the weeds they are,' Blackmore noted. Complex jargon and tech details scare off newcomers who just want the basics: how to buy, store, and profit safely. 'They need Bitcoin 101—how to buy assets, store them, or have a custodian do it,' he said. Many prefer custodians over self-custody, and Glassnode bridges this gap by speaking TradFi's language, using familiar frameworks enhanced with on-chain insights. Think of crypto like cloud computing in the early 2000s. 'People don't need to know how the cloud works—they just know it's superior,' Blackmore said. Glassnode simplifies blockchain data so you don't need a PhD to take advantage of opportunities. Their tools ensure security and clarity, letting you focus on returns, not risks. With over 800,000 users and partnerships with giants like Coinbase Institutional and CME Group, Glassnode's credibility is rock-solid. What sets Glassnode apart? Their comprehensive analytics suite combines on-chain and off-chain data, offering metrics like Supply Mapping and Cost Basis Distribution to reveal investor behavior across hundreds of assets. 'We're engaging with tier-1 players—hedge funds, proprietary trading firms, VCs, family offices, banks,' Blackmore said. Their 'Week On-Chain' and 'Market Pulse' reports deliver quick, actionable insights, while bespoke research helps institutions tailor strategies. Recent posts on X highlighted Bitcoin's rally and profit-taking trends, showing how Glassnode spots market shifts others miss. Unlike competitors like Chainalysis or Nansen, Glassnode's focus on institutional-grade tools and deep coverage of Bitcoin, Ethereum, and 500+ ERC-20 tokens makes it the go-to for serious investors. How Glassnode's data revolution empowers wealthy investors first appeared on TheStreet on Jun 3, 2025 This story was originally reported by TheStreet on Jun 3, 2025, where it first appeared.
Yahoo
an hour ago
- Yahoo
Robinhood Shares Ride Crypto Boom Back to Record Highs
(Bloomberg) -- Nearly four years after its much-hyped debut, Robinhood Markets Inc. has finally seen its shares hit a fresh record as cryptocurrency markets rally. Where the Wild Children's Museums Are Billionaire Steve Cohen Wants NY to Expand Taxpayer-Backed Ferry At London's New Design Museum, Visitors Get Hands-On Access The Global Struggle to Build Safer Cars LA City Council Passes Budget That Trims Police, Fire Spending The stock rose 5.5% to close at $71.72 on Tuesday. The previous high was $70.39, set days after the online brokerage's initial public offering. Robinhood's shares languished for years as 2021's meme-stock frenzy faded and the collapse of FTX fueled a crash in digital asset prices. Less than a year after its debut the stock had slid 82%, and didn't reach its IPO price until December 2024. The stock rallied close to record territory in February, riding a boom in crypto that fueled a blowout quarterly print, then fell nearly 50% as President Donald Trump's trade war upended markets. The surge to an all-time high came during a rebound in both stocks and crypto, with Bitcoin setting its own fresh record last month. In recent weeks, analysts have also noted opportunities in products such as prediction markets and praised the company's execution. 'They've captured an entire generation's trading pattern and behavior,' Mizuho analyst Dan Dolev said. 'It's just the gamifying of trading, making it fun, making it interactive. Nobody does it like they do.' The brokerage has used acquisitions to target new users in the past year. Robinhood is making a foray into Canada with its acquisition of crypto player WonderFi Technologies Inc., announced last month, and said on Monday it completed the purchase of European digital-assets exchange Bitstamp Ltd. In the immediate future, Robinhood and other crypto-linked stocks are set to perform well as long as Bitcoin's bull run goes on, according to Piper Sandler analyst Patrick Moley. The company 'has significant runway to scale its crypto operations alongside an already-established cash equity and options brokerage business,' Moley wrote in a note last week. 'This diversified model should provide an offset if and when crypto activity slows.' --With assistance from Matt Turner. YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Trump Considers Deporting Migrants to Rwanda After the UK Decides Not To Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Cuts to US Aid Imperil the World's Largest HIV Treatment Program ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
