Since institutional investors like BlackRock got into Bitcoin, they have been on the lookout for the market bull run. However, that has not materialized despite the SEC approval of Spot Bitcoin and Ethereum ETFs. To that end, Arthur Hayes, former CEO of crypto exchange BitMEX and crypto analyst, has pinned when to expect the alt season.
Altcoin bull run hangs on the BTC & ETH bull rally
In his latest article, Arthur Hayes states that the liquidity injection by the US Treasury Department will ignite the crypto bull run in 2025. According to Hayes, the altcoin bullish rally will begin when BTC and ETH reclaim key psychological levels.
Hayes writes, “Alt szn will return only after Bitcoin and Ether decidedly break through $70,000 and $4,000, respectively… The combination of a dollar liquidity-inspired Bitcoin and Ether rally into year-end will create a strong foundation for the return of a sexy shitcoin soiree.”
Hayes’ prediction is based on an expected increase in US liquidity (money supply) injections later this year. He adds, “I expect that crypto will exit its sideways-to-downward trajectory starting in September.”
At the time of his market predictions, the market is thousands of dollars away from the predicted bull run. BTC and Ether prices are recovering from last week’s $512 billion crypto market sell-off. The correction saw both crypto coins correct down their February lows.
At the time of this writing, on-chain data from CoinGecko shows that BTC trading is below $60,000 at a rate of $58,793. Ethereum is trading at $2,636.
Arthur also predicts that Solana could rally to the $250 mark during the next altcoin season. Hayes writes, “Solana will also climb over $250, but the crypto market-wide wealth effect of a Solana pump is nowhere near as potent as with Bitcoin and Ether, given the relative market caps.” Solana currently trades between $144 and $146 across several crypto exchanges.
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Source: https://www.cryptonewsz.com/arthur-hayes-btc-eth-spark-altcoin-rally/