Arthur Hayes "Altcoin bull run already underway"

Arthur Hayes, co-founder of BitMEX, claimed that "the altcoin season is already underway."

Hayes appeared on the YouTube podcast 'Kyle Chasse Crypto' on the 19th (local time) and said, "The altcoin season is always happening," adding, "If you say the altcoin season hasn't come yet, it's simply because you don't own the coins that are rising."

He analyzed that many traders are waiting for past patterns to repeat and for old plays to become effective again. Hayes pointed out, "People think they should buy the coins that surged in the last season and hope this market will play out exactly the same as before," saying, "That way they feel they know what to do."

However, he advised abandoning this backward-looking approach. Hayes emphasized, "This season is a new season, and new coins are surging," adding, "Rather than relying on history, pay attention to the 'new things' appearing in the market."

Hayes cited Hyperliquid (HYPE) as the most successful example of this cycle. He said, "Hyperliquid's price, which was only $2–3, shot up to $60 and wrote the top story of this cycle." He also said of Solana (SOL) that "its price, which had fallen to about $7 in 2022, surged to around $300 earlier this year (about 420,000 won)," and added, "The altcoin season already happened; you just weren't participating."

However, some in the market hold a different view from Hayes. Maen Ftoui, CEO of CoinQuant, told Cointelegraph in an interview that "assets for which spot exchange-traded funds (ETFs) have been approved or are expected to be approved will absorb most of the capital in the next altcoin season," predicting strength for older major coins.