Altcoin Season Could Start by This Summer, Says Arthur Hayes

Key Takeaways

• Arthur Hayes predicts the next altcoin season could kick off by early Q3.
• He expects Bitcoin to reach $250,000 by the end of 2025, with long-term potential over $1 million.
• Hayes believes Ethereum is likely to outperform Solana over the next 18–24 months.

BitMEX co-founder Arthur Hayes believes the altcoin season is just around the corner.

In a recent interview with Fortune , Hayes said he expects altcoins to rally as early as the start of the third quarter, once Bitcoin (BTC) crosses key price thresholds.

Bitcoin Dependent

“Bitcoin needs to go above $110,000, and increasing volumes reach $150,000–$200,000. I think that happens sometime in the summer or early third quarter, and then the rotation starts into various altcoins,” Hayes said.

The idea, according to Hayes, is that once BTC pushes into new all-time highs, investors will begin reallocating profits into smaller, more volatile tokens.

This rotation historically marks the start of “altseason,” a period when altcoins, especially Layer-1s and memecoins, outperform Bitcoin.

Ethereum Set To Outpace Solana, Says Hayes

Hayes also weighed in on the Ethereum (ETH) vs. Solana (SOL) debate, suggesting that while both platforms are competitive, Ethereum may be better positioned over the next leg of the bull run.

“I think Ethereum could outperform Solana in this 18–24 months bull run,” Hayes said, noting that Ethereum still commands the most total value locked (TVL), has the largest developer base, and operates one of the most secure proof-of-stake blockchains.

While Solana has been one of the best-performing tokens of this cycle, rising from $7 to over $170, Ethereum has lagged behind many other majors despite being the second-largest crypto by market cap.

However, Hayes argues that fundamentals will eventually drive a strong rebound.

Bitcoin Price Headed to $250,000 by Year-End?

In addition to his altcoin thesis, Hayes offered an extremely bullish outlook on Bitcoin.

He believes BTC could climb as high as $250,000 by the end of this year and could even break $1 million by the end of Donald Trump’s second term.

Much of this optimism stems from Hayes’ macroeconomic view. He anticipates continued fiscal expansion in the U.S., which he says will push more liquidity into markets and support Bitcoin’s rise.

“I think Bitcoin bottomed on April 9 and will continue much, much higher as the government continues to borrow money and Bessent does what is necessary to ensure they’re funded at an affordable rate,” he said, referencing Treasury Secretary Paul Bessent.

Hayes believes the U.S. Treasury will need to issue significantly more debt to cover increasing government spending, effectively flooding the system with more dollars and driving up hard asset prices, including Bitcoin.

Bitcoin is currently trading above $102,000, attempting to regain momentum after slipping below $105,000 earlier this month.

As the market eyes potential interest rate cuts, ETF inflows, and geopolitical shifts, Hayes’ projections may not be as far-fetched as they seem.

With Ethereum gearing up for a potential breakout, and a new wave of capital likely to flow into altcoins this summer, Hayes’ forecast could mark the beginning of crypto’s next explosive phase.