Bitcoin’s (BTC) $2T Market Cap Could Be Drained As Altcoin Season Heats Up in June: Analys
May 15, 2025
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By Omkar Godbole|Edited by Parikshit Mishra
Updated May 15, 2025, 9:32 a.m. Published May 15, 2025, 9:19 a.m.
- 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
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.”
Read more: Crypto Daybook Americas: PEPE Signals Altcoin Frenzy as Rampant Ether Outpaces Bitcoin
Omkar Godbole is a Co-Managing Editor on CoinDesk’s Markets team based in Mumbai, holds a masters degree in Finance and a Chartered Market Technician (CMT) member. Omkar previously worked at FXStreet, writing research on currency markets and as fundamental analyst at currency and commodities desk at Mumbai-based brokerage houses. Omkar holds small amounts of bitcoin, ether, BitTorrent, tron and dot.
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