Share this article

Altcoin Season Could Heat Up in June and Drain Part of Bitcoin’s $2T Market Cap, Analyst Says

Joao Wedson, CEO of Alphractal, predicts a full-blown alt season in June, with BTC dominance already under pressure.

Updated May 15, 2025, 4:14 p.m. Published May 15, 2025, 9:19 a.m.
Representation of some crypto tokens. (CoinDesk archives)
Representation of some crypto tokens. (CoinDesk archives)

What to know:

  • Bitcoin's dominance in the cryptocurrency market has decreased from 65% to 62%, indicating a potential shift towards alternative cryptocurrencies.
  • Joao Wedson, CEO of Alphractal, predicts a full-blown alt season in June, with many altcoins already outperforming bitcoin.
  • Despite the decline in Bitcoin's dominance, broader market measures suggest the bull market has not yet fully expanded beyond bitcoin.

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.

STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters

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.

Advertisement

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."

Read more: Crypto Daybook Americas: PEPE Signals Altcoin Frenzy as Rampant Ether Outpaces Bitcoin

Higit pang Para sa Iyo

Exchange Review - March 2025

Exchange Review March 2025

CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.

Ano ang dapat malaman:

Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.

  • Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
  • Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions. 
  • Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.

Higit pang Para sa Iyo

This article is created to test tags being added to image overlays

Consensus 2025: Zak Folkman, Eric Trump

Dek: This article is created to test tags being added to image overlays

Ano ang dapat malaman:

  • Ethena's USDe becomes fifth stablecoin to surpass $10 billion market cap in just 609 days, while Tether's dominance continues to slip.