Altseason Delayed Until 2025: Key Price Levels for Bitcoin and Ether

• The altcoin market rally may be delayed until 2025, depending on Bitcoin and Ether reaching critical price levels.
•  Arthur Hayes predicts Bitcoin could reach $100,000 by year-end, driven by U.S. Treasury bill issuance.
• Solana’s price could rise to $250 in the next altcoin season if Bitcoin surpasses the $70,000 threshold.

The long-anticipated rally in the altcoin market, commonly referred to as “altseason,” may not materialize until 2025. This delay hinges on the performance of Bitcoin (BTC) and Ether (ETH), the world’s two largest cryptocurrencies. 

Arthur Hayes, the co-founder of BitMEX and chief investment officer of Maelstrom Fund, suggests that both cryptocurrencies need to reach specific psychological thresholds to kickstart a bullish trend in the altcoin sector.

Bitcoin and Ether Must Hit Key Levels

But as Hayes said, Bitcoin needs to go beyond $70,000 while Ether, beyond $4,000, for the altcoin market to start its surge. As Hayes pointed out in the research note dated August 12, more such milestones are necessary to create the groundwork for a more general market uptrend. 

He still expects this kind of movement in Bitcoin and Ether and he is of the view that dollar liquidity is going to rise especially due to the offering of U. S. Treasury bills.

Market Recovery in Progress

The market of cryptocurrencies is still in the process of its recovery after the massive sell-off operation that destroyed $510 billion. This sell-off put both Bitcoin and Ether at their February 2024 low or $20,000 and $240 respectively. 

Bitcoin’s price plummeted below the crucial post-halving uptrend line when its price went sub $63,000. However, getting back to this trend line before the end of 2024 may well place Bitcoin back in position to reach $100k in line with prior halvings.

Hayes also still believes that Bitcoin can get to $100k in the current cycle. He credits this potential growth to expected increase of liquidity in the crypto market through the offering of the U. S. Treasury bills. 

He states that as much as $301 billion in T-bills is expected to be outstanding by the end of December 2024, which could see Bitcoin bounce back from recent lows and ‘moon’, or reach $100,000.

Solana’s Potential Rally

Sol, now ranked as the fifth largest Cryptocurrency, may rise to $250 if Bitcoin hits the $70,000 level during the next altcoin season.

Hayes was also quick to add that Solana may well see an overall positive bump but it will not be as dramatic as that experienced by Bitcoin or Ether because the former’s market cap is much lower. Nevertheless, Solana’s current price has yet to recover to its all-time high of $259 per coin recorded in November 2021, and it is 42% below that price.