Is Altcoin Season Coming to an End? Cardano Switches $100 Million to Bitcoin!

Jakarta, Pintu News – Crypto market watchers may be disappointed waiting for a broader and stronger rise in altcoin prices. Jeff Park, Chief Alpha Strategist at Bitwise, and Adam Back, founder of Blockstream, think that the trend of protocols shifting their assets to Bitcoin could affect the altcoin market. In a post on X, Park stated, “Less qualified altcoins leaving their assets to build BTC cash is not something I predict for 2025. The world is improving.”

Cardano’s Move and Its Impact

The move by Charles Hoskinson, founder of Cardano, to swap $100 million from Cardano to Bitcoin as part of a cash diversification, has generated various reactions. According to Adam Back, this move will strengthen Bitcoin and potentially destroy the altcoin market. “Not only has altcoin season been canceled, but altcoin surrender has arrived, where insiders sell their own assets to buy Bitcoin and create a reserve fund for themselves,” Back said.

Also Read: Bitcoin (BTC) Hits a New Low, What’s the Impact on the Market? (6/18/25)

Altcoin Market Against Bitcoin’s Dominance

Since November last year, the average altcoin market has dropped by 50% compared to Bitcoin. The attached chart shows that the total crypto market excluding the top 10 assets has been steadily declining since 2021. Despite significant price increases at the end of 2023 and 2024, the sector still struggles to outperform Bitcoin. Bitcoin’s dominance briefly dropped to 55%, but then jumped to 65%, showing that most investors prefer Bitcoin over other altcoins.

Some Altcoins Are Performing Well

Despite Bitcoin’s increasing dominance, certain altcoins are performing exceptionally well. The altcoin seasonality index has remained below 30 since the first quarter, signaling Bitcoin’s dominance in the first half of 2025. However, about 10 assets managed to surpass Bitcoin in terms of investment returns over the last 90 trading days.

At the top of the list is Hyperliquid (HYPE), which gained more than 200% compared to Bitcoin’s 22% gain. Aave , Monero (XMR), Bittensor , and Pepe Coin also showed strength relative to Bitcoin.

Conclusion

Although the altcoin sector in general seems sluggish, there are still some “hidden gems” that could possibly outperform Bitcoin in terms of returns. Strategic moves like the one made by Cardano may be an important indicator for investors to assess the potential and risks in diversifying their crypto assets.

Also Read: Global Tensions Heat Up, Crypto Takes a Hit: What Really Happened? (6/18/25)

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• AMB Crypto. Altcoin season on the brink: Experts flag Cardano’s $100M BTC treasury shift. Accessed on June 18, 2025
• Featured Image: Generated by AI