Bitcoin Price Between $77,500 and $88,350 Continues to Attract Whales, But the Long-Awaited Altcoin Season May Not Arrive…
(Background: Standard Chartered: If Bitcoin Replaces Tesla in the S&P 500 Index, Average Returns Will Be Higher, Volatility Lower)
(Context: Bitcoin Breaks $88,000; Trump Predicts Tariff Reductions, Possibly Excluding Autos and Semiconductors… U.S. Stocks Surge, Tesla Soars 12%)
Cryptocurrency analysis firm Santiment recently pointed out that during the strong rebound of Bitcoin’s price from $77,500 to $88,350, the number of addresses holding between 100 and 10,000 Bitcoins increased from 16,600 to 17,889, indicating that as whales re-accumulate, the Bitcoin market may begin to warm up.
Asset Management Giants Optimistic About Bitcoin Investment Opportunities
Dominic Rizzo, Technology Investment Manager at T. Rowe Price, which has over $1 trillion in assets under management, stated:
“Bitcoin’s price is close to its mining cost, which presents a golden opportunity for contrarian positioning. Currently, the mining cost of Bitcoin is around $84,770, while the spot price is close to $87,000. Typically, this situation signifies that the market is near its bottom, and bearish sentiment has been fully priced in.”
Rizzo advised that investors should view Bitcoin from a commodities perspective, as this can better capture the risks and returns at the time of entry. He emphasized:
“Blockchain and digital payments are crucial components of the future of fintech and artificial intelligence, and institutionalization and regulation will be core trends in the development of the cryptocurrency market.”
Has the “Altcoin Season” Already Passed?
On the other hand, has Bitcoin’s rebound led to a surge in altcoins? Currently, there seems to be no significant trend observed.
According to Cointelegraph, in previous bull markets, altcoins outperformed Bitcoin, and according to the blockchain center’s quantitative indicator, Altseason, a traditional “altcoin season” only occurs when 75% of the TOP 50 altcoins outperform Bitcoin within a 90-day period.
However, in this bull market, the performance of altcoins has not been consistent, as the Altseason index saw increases in March 2024 and January 2025, but neither duration was long enough to constitute a traditionally recognized altcoin season.
Thus, perhaps what we need to recognize now is: maybe it is not that the altcoin season has not arrived, but rather that it has already passed, and we are just slow to realize it…
Is the Inability for Altcoin Season to Arrive Due to Meme Coins?
Notable analyst Miles Deutscher pointed out that the rise of meme coin launch platforms like Pump.fun has changed the flow of capital. A significant amount of capital has flowed into low-market-cap meme coins, leading to massive price surges followed by severe corrections, with some meme coins dropping by as much as 70% to 80%. Additionally, politically-themed meme coins have exacerbated market volatility, with tokens related to $TRUMP and $MELANIA plummeting by 83% and 95% respectively after their listings.
