BitMEX co-founder Arthur Hayes argues that altcoin season is already underway. In a recent podcast, he stated that there is always an altcoin season and that missing the rally was due to holding coins that had not risen. Hayes warned traders against chasing past patterns, saying that if you only buy coins that rose in previous altcoin seasons you might miss the current market flow and should focus on new leaders.
He pointed to HyperLiquid as a prime example, noting its rise from a few dollars to around $60. He also cited Solana, which fell to about $7 in 2022 and climbed to roughly $300 earlier this year, arguing that the altcoin cycle had already occurred.
Not all experts share Hayes’s conviction. CoinQuant CEO Maen Ptui said capital could flow into the altcoin space in the next cycle, suggesting gains may tilt toward different names. By contrast, Bitfinex analysts cautioned that broad altcoin strength may remain limited until ETFs that extend beyond marquee coins gain approval.
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