Arthur Hayes predicts a major altcoin season after Bitcoin’s new all-time high. SEI, SUI, and HBAR already show strong gains in the current rally.
By Godfrey Benjamin
Updated
3 mins read
The cryptocurrency market has recorded a notable rally over the last 24 hours, and Arthur Hayes, the renowned co-founder of BitMEX, has now made a bold prediction for altcoins.
The prominent figure shared his opinion on the future of the crypto market in a Friday post on X.
Hayes went from a bearish stance to an overwhelmingly bullish forecast, signaling the onset of a “monster altcoin season.” He claimed that this sentiment would be driven by market indicators and political developments, sparking interest and debate among investors and analysts alike.
I was slightly bearish in my last essay due to TGA refill. What changed?$BTC busted through ATH on good volume$ETH is following and will outperform, get ready for a monster alt szn.
Mrkt thinks Trump will TACO on tariffs, so fuck it: @MaelstromFund is backing up the truck!— Arthur Hayes (@CryptoHayes) July 11, 2025
Previously, the former BitMEX CEO raised concerns about the Treasury General Account (TGA) refill, which embodied the United States Treasury’s efforts to rebuild its cash balance at the Federal Reserve.
In his opinion, this refill is capable of pressuring risk assets by draining liquidity from the market, a move that could dampen short-term sentiment.
These fears were suddenly invalidated by the sharp high moves seen in the crypto market this week. Specifically, the former BitMEX CEO acknowledged that the spike in Bitcoin BTC $115 951 24h volatility: 4.2% Market cap: $2.31 T Vol. 24h: $56.12 B price is responsible for his sudden pivot. For context, Bitcoin hit several new all-time-highs within 2 hours.
BTC is currently trading at $117,850.48, corresponding with a 6.2% price increase over the last 24 hours. The flagship cryptocurrency now has a market capitalization of $2.34 trillion and a 24-hour trading volume of $123.92 million, suggesting massive traders and investors activity.
Arthur Hayes also mentioned Ethereum’s ETH $2 949 24h volatility: 6.5% Market cap: $356.59 B Vol. 24h: $39.25 B substantial uptick within the same period, citing that the coin may soon take the lead into a robust altcoin season.
There is a track record of such market momentum preceding capital rotation into altcoins. This history likely backs Hayes’ forecast about the long-awaited altcoin season being near.
Meanwhile, Hayes highlighted the market’s belief that President Donald Trump may soften his stance on tariffs, using the acronym “TACO” (Trump Always Chicken Out).
It is believed that reduced tariffs could weaken the US dollar. Should this happen, it is likely to be a bullish signal for Bitcoin and, by extension, altcoins.
Signs of a bullish altcoin season are already visible with the likes of SEI Network SEI $0.31 24h volatility: 15.7% Market cap: $1.70 B Vol. 24h: $392.97 M , SUI SUI $3.49 24h volatility: 13.4% Market cap: $12.06 B Vol. 24h: $1.73 B , and Hedera HBAR $0.19 24h volatility: 10.9% Market cap: $8.05 B Vol. 24h: $354.58 M recording between 10% and 20% rally over the past 24 hours. As it stands, more than 80% of altcoins are outperforming Bitcoin in the ongoing rally.
Although SEI has been on an uptrend this past week, recording positive momentum in several metrics. Nansen noted that the altcoin posted a staggering 368% growth in transaction fees within 30 days. At this level, it conveniently led all chains by a wide margin.
The move cemented SEI’s position as the fastest-growing L1 in terms of economic activity, as it left behind contenders like Unichain UNI $8.47 24h volatility: 1.7% Market cap: $5.09 B Vol. 24h: $688.99 M , Avalanche AVAX $20.69 24h volatility: 5.9% Market cap: $8.74 B Vol. 24h: $642.74 M , Aptos APT $4.88 24h volatility: 5.2% Market cap: $3.16 B Vol. 24h: $263.58 M , and Gravity Chain. The next altcoin season is likely to bring more gains to SEI alongside XRP XRP $2.54 24h volatility: 5.7% Market cap: $150.43 B Vol. 24h: $5.30 B and other top performers.
Make sure to keep a close eye on the crypto space in the coming days to see which crypto will explode as the altcoin rally gains momentum.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
