The cryptocurrency market has entered a phase reminiscent of past altcoin seasons, primarily driven by Bitcoin's recent rebound to the $94K–$96K range. 

Altcoin season might have come with reviveding speculation 

The cryptocurrency market has entered a phase reminiscent of past altcoin seasons, primarily driven by Bitcoin's recent rebound to the $94K–$96K range. This resurgence has sparked renewed interest among retail traders, shifting focus from Bitcoin to smaller, more speculative altcoins. The overall market saw a 10% increase in value during the final eight days of April, contrasting with Bitcoin's 7% gain. This trend indicates a growing appetite for risk among investors, particularly in meme coins, which have seen a surge in social media discussions.

However, caution is warranted as elevated crowd enthusiasm often precedes market corrections. Historical patterns suggest that when buzzwords like "altseason" are dominating discussions, it may signal an impending price exhaustion. The current market dynamics reflect a shift toward speculative investments, raising concerns about the sustainability of this enthusiasm.

Bitcoin's bullish sentiment substantially improves

Bitcoin's position as the leading cryptocurrency has remained steady, with discussions around its price fluctuating significantly. Following a period of pessimism, when predictions dipped as low as $10K–$69K, sentiment shifted dramatically with the price recovery. Now, optimistic projections of $100K–$159K are dominating conversations, indicating a reversal in trader sentiment.

Despite Bitcoin's consistent presence in market discussions (approximately 25% of asset topics), the ratio of bullish-to-bearish commentary has grown increasingly favorable. This suggests a growing confidence among traders bolstered by Bitcoin's recent performance. However, it’s essential to monitor whether this bullish sentiment translates into sustained investment, or if it leads to overconfidence that may trigger a market pullback.

Ethere, once a robust contender in the altcoin arena, has struggled to regain retail investor confidence despite recent bullish commentary and promises of innovation from co-founder Vitalik Buterin. Its social media presence has dwindled to about 6–7% of discussions, a significant drop from previous years. This decline highlights the challenges Ethereum faces in re-establishing itself as a go-to investment in a market increasingly dominated by speculative assets.

Conversely, XRP has seen a notable increase in optimism surrounding ETF approvals, with expectations rising to 85%. This shift reflects a broader trend of institutional interest in cryptocurrencies, potentially paving the way for significant capital inflows. Meanwhile, Dogecoin's potential ETF listings have sparked renewed interest, transforming its image from that of a meme coin to a legitimate investment option. The growing dialogue surrounding institutional adoption of Dogecoin and XRP indicates a pivotal moment for these assets, suggesting they may play critical roles in the evolving cryptocurrency landscape.

Advanced

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Bybit x Santiment social sentiment report: Altcoin sentiment recovers despite Bitcoin’s resilience

Bybit Spread Trading allows traders to simultaneously buy and sell two related instruments in order to hedge risk or profit from price discrepancies. Read more.

Whether markets are flying high or wobbling unpredictably, one thing remains true: traders are always looking for smarter ways to 

 and find profit opportunities. That’s where Bybit Spread Trading comes in. This feature is tailor-made for those who want to go beyond basic buy/sell plays and start taking advantage of price discrepancies between related instruments. In this guide, we’ll walk through exactly how Bybit Spread Trading works, why it matters and how you can start using it today, whether you’re 

is a newly launched Bybit feature that allows users to simultaneously buy and sell two related instruments — such as Spot, Perpetual or Expiry contracts with different settlement dates — in order to hedge risk or profit from price discrepancies.

This type of trading strategy is popular among institutional and professional traders because it enables more precise, controlled market exposure. However, with Bybit’s interface, the barrier to entry is significantly lowered, opening the door for individual traders to tap with just a few clicks into a powerful set of tools.

At its core, Spread Trading on Bybit is about executing what’s called a combo trade. This means entering two positions at once: one long, one short. These positions are taken on related instruments, such as a BTC Spot trade and a BTC Perpetual contract, with the idea that their prices will either converge or diverge in a way that benefits your position.

When you place a buy combo, you’re buying the instrument with the longer expiration (the “far leg”) and selling the one that expires sooner (the “near leg”). 

A sell combo is the reverse: selling the far leg and buying the near leg. The profit (or loss) comes from how the spread between these two instruments shifts over time.

For example, if you believe the spread between a Perpetual and a Quarterly Futures contract will widen, you can buy the combo. If the spread increases after your entry, that movement becomes your profit. Bybit calculates your 

 prices automatically, based on the mark prices and your defined “order price,” so there’s no need to manually crunch the numbers.

Perhaps the most important feature here is atomic execution. This ensures both sides of your combo trade are filled together, in equal quantities, or the trade doesn’t go through at all. It removes “leg risk,” which is the danger of getting filled on one side of the trade, but not the other. In volatile markets, that alone can save you from an unwanted mess.

Spread Trading on Bybit currently supports combinations such as Spot and Perpetual, Spot and Expiry, Perpetual and Expiry, or even two Expiry contracts with different dates. This flexibility lets you build strategies that align with different market outlooks — bullish, bearish or neutral.

There’s a strong reason why Spread Trading is a go-to for many experienced traders: it allows for strategic plays that are more sophisticated than just guessing price direction. On Bybit, it’s not only powerful, but also convenient.

First, you get price certainty. Your spread is locked in at the price you specify. There’s no 

 between legs because the entry prices are automatically calculated and matched. You’re trading the spread, not the individual legs.

Secondly, the trading experience is smoother. Instead of placing two separate orders and manually trying to sync them, Bybit handles everything as a single transaction. You don’t have to worry about whether one leg gets filled and the other doesn’t — that risk is eliminated through atomic execution.

Third, this setup is a great hedge against volatility. By taking opposing positions on two related contracts, you reduce exposure to sharp price movements. Your P&L becomes more about the relative performance between contracts, rather than the market direction itself.

There’s also a strong cost advantage. Trading spreads on Bybit is significantly cheaper than doing it manually. You pay only half the trading fees you’d incur if you placed two individual trades on the order book. For high-volume or 

, that translates to meaningful savings over time.

Finally, it unlocks strategy flexibility. Whether you're 

 funding rates between Spot and Perpetual, doing 

 with different Futures contracts or taking advantage of price convergence before expiry, this platform gives you the tools to execute those ideas efficiently.

How to get started with Bybit Spread Trading 

Now that you have a better understanding of how Bybit Spread Trading works, let’s look into how to get started. Please note that you’ll need to have a Bybit account in order to proceed. If you don’t already have one, please check out our 

 for more information on how to create a Bybit account.

: Log in to your Bybit account and hover your cursor over the 

: The available spreads are organized in a grid, with each tile representing a unique combo. Choose your preferred combo to trade.

Tiles with a border around them signify that Spread Trading offers a better price. Hover over a tile for more details, or use the bar at the bottom of the grid to explore more options.

On the order placement page, set up your order with the following parameters:

to place your order. A pop-up window will appear for you to confirm your order details. Then, click on 

Congratulations — you’ve successfully placed an order!

You can view your Spread Trading orders from any trading page (Spread Trading, Spot and Futures), as they all share the same order data.

 to view your active orders. You’ll be able to view the combo, underlying asset, order price and more. 

If you would like to adjust your order parameters, you may click on the pencil icon under 

. To cancel your order, simply click on the order’s corresponding 

to view your completed orders. To view each order’s information on each leg, click on the order’s corresponding 

button. For additional insights, click on 

Spread trading isn’t for everyone — but if you’re someone who enjoys strategic trading, hedging or arbitrage, it’s a tool worth adding to your arsenal. It appeals to traders who are less interested in taking a directional bet, and more focused on capitalizing on inefficiencies in the market.

You don’t have to be a pro trader to benefit, either. The simplified execution and intuitive UI mean even intermediate users can explore advanced strategies without being overwhelmed. As long as you understand how spreads work, and how your P&L is affected by their movement, you’re already halfway there.

More importantly, in times of market uncertainty or low volatility — when price action feels sluggish — spread trading gives you an alternative way to profit. It keeps you in the game — even when momentum plays aren’t cutting it.

Bybit Spread Trading is a powerful tool that combines simplicity with sophistication. Whether you're looking to hedge, save on fees or experiment with 

 strategies, it offers a clean and user-friendly way to do so. With lower risk, lower costs and plenty of flexibility, Bybit Spread Trading is a smart move for any trader looking to level up their game — especially when markets get messy.

Intermediate

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Bybit Spread Trading: Smart strategies for market swings

Our weekly crypto derivatives analytics report delves into macro events; the current state of crypto and trading signals from spot trading volume; and futures, options and perpetual contracts.

Positive sentiment around potential US trade deals has fueled a sixth straight day of gains in risk-on assets. Bitcoin, boosted by this sentiment and its own drivers, such as strong ETF inflows and regulatory progress, has outperformed gold and equities, rising 14% over the past month and consolidating at $94K. Bitcoin’s implied volatility has decreased significantly, while realized volatility has stabilized above 30%, a level that’s been its floor for the past 18 months.

Please check out the report’s highlights.

Perp at months’ high; traders not yet all-in

After rallying from $75,000 to over $95,000 in early April, Bitcoin has traded sideways at around $94,000 this week. Open interest remains stable for April, near all-time highs at $8B, while trade volumes have decreased to $10B per day. Lower trade volumes correlate with lower realized volatility, and perp positioning suggests that traders are waiting for another rally before committing to major positions, mindful of recent sell-offs.

Bitcoin volatility declines to 18-month low

Bitcoin’s volatility has declined, nearing a previously held floor of 35–40%, a level from which it has consistently rebounded over the past 18 months. Implied volatility has followed a 10-point drop in realized volatility to just above 30%, the floor of its 18-month range. Options activity shows a preference for puts, as BTC’s spot price is remaining stable. Volatility smile skews favor out-of-the-money calls, particularly for long-term options, while short-term options are nearly neutral.

BTC volatility smiles skew toward OTM calls

Bitcoin's volatility smiles now favor out-of-the-money (OTM) calls across all tenors, recovering from a put-call skew that strongly favored puts earlier in April. Ether is showing a similar recovery at short tenors, but longer-term skew remains slightly bearish. While ETH funding rates are positive, longer-term option smiles are skewing toward puts, thus presenting mixed sentiment. For BTC, derivatives markets are indicating clearer bullish signals, including positive funding rate spikes, positively sloped futures yields and a skew toward OTM calls.

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Bybit X Block Scholes crypto derivatives analytics report (Apr 30, 2025): Bitcoin volatility at 18-month low; data shows traders aren’t yet all-in

Grayscale has launched the Bitcoin Adopters ETF, which tracks companies with a corporate Bitcoin treasury strategy. 

Daily top performer — Curve Finance (CRV)

The S&P 500 rose 0.15% as investors shrugged off recession fears and reacted positively to strong tech earnings, with focus now shifting to upcoming Apple and Amazon results. Gold dropped to $3,245 on US-China trade optimism and a stronger dollar, with Fed rate cut hopes cushioning losses. The Coindesk Indices, which tracks the broader crypto market, fell 0.51%, with Bitcoin and Ether down 1.24% and 0.86%, respectively in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is CRV, which surged 11.4% after Spark's integration of new Curve pools, enhancing stablecoin liquidity and improving DeFi infrastructure.

Curve Finance (CRV), launched in 2020, is a DEX on Ethereum for low-fee swaps between stablecoins and similar assets, with yield-earning pools and DAO governance via the CRV token. Spark has 

 sUSDS/USDT and USDC/USDT Curve pools to its Spark Liquidity Layer (SLL), boosting stablecoin liquidity, enabling easier swaps, and supporting future direct USDT deposits and withdrawals via Spark Savings.

Check out the latest prices, charts, and data of 

 the Bitcoin Adopters ETF, which tracks companies with a corporate Bitcoin treasury strategy. The ETF includes firms like Tesla, Blockstream, and MARA. It reflects the growing trend of companies acquiring Bitcoin as a hedge against inflation. Grayscale's fund aims to provide exposure to companies in sectors like mining, automotive, and energy. Institutional BTC adoption, including Michael Saylor's Strategy, is driving Bitcoin's scarcity, which may lead to a supply crunch and rising Bitcoin prices in the future.

Yesterday, BTC spot ETFs saw $323.3M in outflows, with $32M from GBTC and $291.3M from other ETFs.

 its largest Galxe points event, running from May 4–8, 2025, where users can complete tasks to earn points. They also introduced the AlphaWave competition, a 7-day AI trading contest featuring 25 crypto agents. Users can vote for the agent they think will win to earn rewards and complete Galxe quests. New tasks will be added throughout the week.

Beginner

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Grayscale launches Bitcoin Adopters ETF, tracking companies with BTC treasury strategies

Altcoins

Trading

Explainers

Altcoin season means Bitcoin is losing its dominance in the crypto market. Find out when the alt season is and position yourself for this period.

Are you ready for the thrilling ride that is altcoin season? This exhilarating period in the crypto market can bring significant gains and opportunities for savvy investors. But to make the most of it, you need to understand its indicators, timing, and how to navigate the potential risks. “When is altcoin season?” you may ask. Buckle up as we guide you through everything you need to know about altcoin season and its perfect timing!

Altcoin season is an exciting period when alternative cryptocurrencies, or altcoins, outperform Bitcoin in the market. This captivating phenomenon is driven by multiple factors, such as market sentiment, product releases, improvements to blockchain technology and wider adoption by businesses and financial institutions. All of these play an integral role in its growth. Altcoins can offer mind-blowing features or benefits, such as faster transaction speeds, lower fees, improved privacy, or enabling smart contracts.

, new buyers may eagerly favor altcoins, which are more affordable digital currency options compared to BTC. Investors should keep in mind that altcoin season is merely a phase within the long-term cryptocurrency market cycle and fortunes can fluctuate as the market progresses.

To identify the start of an altcoin season, we need to watch for several key indicators, such as:

Technical analysis can help pinpoint these indicators, giving investors a better understanding of when the altcoin season may begin.

Monitoring these indicators closely can aid you in making informed decisions about when to venture into the altcoin market, potentially gaining from this exciting period. Let’s now examine each of these indicators in more detail, exploring their contribution to the altcoin season.

Bitcoin dominance is an intriguing measure. It calculates the amount of cryptocurrency 

 taken by Bitcoin. When Bitcoin dominance decreases, it indicates that capital is excitedly flowing from Bitcoin into altcoins, suggesting that investors are thrilled to diversify their cryptocurrency holdings. Historically, Bitcoin has seen a decrease in market dominance before an altcoin price surge. This has been observed multiple times throughout its market history..

Market participants may switch from Bitcoin to altcoins during altcoin season for various reasons. After a huge surge, BTC price usually stays at a high level for a long time, prompting traders seeking quick profits to sell their bitcoin and move to altcoins. Additionally, the elevated BTC price could be too expensive for new crypto buyers, leading to a shift of the market cap to non-BTC currencies.

When the market cap of top altcoins like Ethereum, Solana, and Cardano rises, it’s a sign that an upcoming altcoin season may be on the horizon. For example, Solana’s market capitalization is an impressive $9.2 billion, and Ethereum’s selling price was nearly $1,900 at the time of writing. Keeping an eye on altcoin prices can help investors anticipate and prepare for these market shifts.

Increased adoption of altcoins like XRP could lead to an exciting surge in demand for the cryptocurrency, which would definitely positively impact its price. With the rising market cap of top altcoins, it becomes increasingly important to stay updated and ready to capitalize on the opportunities that the altcoin season brings.

New Trends in Web3 and Blockchain Technology

New trends in Web3 and blockchain technology, such as thrilling 

, stunning NFTs, and innovative Layer 1 solutions, can drive demand for altcoins and contribute to an epic altcoin season. Solana is a blockchain technology which is gaining popularity due to its low transaction fees and proof-of-history verification. This makes it one of the fastest blockchains available..

The radical transformation of altcoin trends by DeFi has led to a massive interest and investment in altcoins that are part of the DeFi ecosystem. This growth in interest and investment can play a significant role in the emergence of an altcoin season. Some examples of altcoins that are part of the DeFi ecosystem include:

These altcoins have seen significant growth and adoption due to their involvement in decentralized exchanges, lending and borrowing platforms, and other financial services built on blockchain technology.

A bullish sentiment in the bull market, including the stock market and crypto market, can positively impact the popularity of altcoins and lead to an altcoin season. During a bullish stock market, altcoins have the potential to really outperform Bitcoin as investors seek higher returns and take on higher risk.

Nonetheless, the intricate and fluctuating relationship between the stock and cryptocurrency markets requires that one stay well-informed about regulatory shifts and market trends for successful navigation through the altcoin season.

Preparing for altcoin season involves researching potential investments, diversifying your portfolio, and setting realistic profit targets. Platforms like Bybit offer instant access to over 

 for mobile or desktop, making it easier for investors to explore various options.

Some top-rated altcoins to consider investing in for the upcoming altcoin season include:

To stay up-to-date with cryptocurrency news and developments, keep an eye on reliable sources like 

Risks and Challenges During Altcoin Season

As exhilarating as altcoin season can be, it’s essential to be aware of the risks and challenges that may arise. Some of the risks during altcoin season include:

It’s important to stay informed and exercise caution when participating in altcoin season.

By staying informed about potential risks and challenges, you can make better decisions when investing in altcoins during altcoin season. This knowledge will empower you to spot potential pitfalls and protect your investments in this rapidly evolving market.

Investors aiming to maximize profits while mitigating losses during altcoin season should focus on setting attainable goals, steering clear of emotional trading, and implementing robust risk management strategies. Setting realistic goals involves determining your capital, identifying your investment strategy, and reviewing the white paper of altcoins.

Avoiding emotional trading is crucial, as fear, greed, and 

 (fear of missing out) can impact decision-making. Effective risk management strategies for altcoin trading include:

While timing the alt season might pose a challenge, keeping a close watch on key indicators and market trends can guide investors on when to initiate and liquidate positions. The Altseason Indicator, ETH breaking away from Bitcoin, and the Moralis Money Altcoin Season Indicator are useful tools to consider when looking for altcoins during the alt season. As the altcoin season begins, closely monitoring these tools, including the altcoin season index, can provide valuable insights for investors.

The Bitcoin halving cycle, which occurs approximately every four years, can also impact the timing of the altcoin season. During the halving, the block reward for mining Bitcoin is reduced by half, creating a scarcity of new Bitcoins and increasing demand for alternative cryptocurrencies, including altcoins. This period is often referred to as the “bitcoin season” due to its influence on the cryptocurrency market.

Successful altcoin seasons, such as those in 2017 and 2020/2021, showcase the potential for significant gains and the importance of staying informed about market trends and developments. In 2017, the altcoin season lasted for approximately 10 weeks, accounting for about 19% of the year. During this period, several altcoins experienced significant gains, with some coins like NEM and 

 seeing upswings of up to 709%! As we anticipate the next altcoin season, it’s crucial to keep an eye on market trends and be prepared for potential opportunities.

The incredible success of altcoins in the 2020/2021 season can be attributed to several factors, including:

These factors create incredibly favorable conditions for altcoin growth, showcasing the enormous potential for investors during altcoin season.

Altcoin season is an exhilarating time in the cryptocurrency market, presenting investors with the potential for substantial gains. By understanding the key indicators of an altcoin season, staying informed about market trends and developments, and employing strategies to maximize profits and minimize losses, you can make the most of this exciting opportunity. So, gear up and get ready to ride the thrilling wave of the next altcoin season!

ETH, XRP, PEPE, and CRO are all predicted to explode in 2023, with Ethereum being the top pick for potential growth. Get ready for an exciting ride, as these cryptocurrencies could bring massive gains!

Altcoin season is an exciting 3-month period of significant altcoin growth - get ready for it!

The Altcoin season index is a useful tool that tracks the performance of Bitcoin relative to the top 50 altcoins over a 90-day period, helping us determine whether we are in an altcoin or Bitcoin season.

Altcoin season is a period of high performance in the crypto market cycle, when alternative coins (altcoins) experience rapid growth in prices and market capitalizations, outperforming Bitcoin. It is usually characterized by a bullish sentiment in the crypto market, newly released or updated altcoins, and a reduction in Bitcoin dominance.

What are the key indicators of an altcoin season?

Get ready - an altcoin season is here! We can tell by the decreasing Bitcoin dominance, rising market cap of top altcoins, and bullish sentiment in the wider economy. Blockchain technology has also given rise to new trends in Web3, so don't miss out.

What Is Alt Season and How to Apply It on Crypto Trading?

Compete for 2,500 USDT USDT Every Week

What Is Alt Season and How to Apply It on Crypto Trading?

Grab Up to 5,000 USDT in Rewards

Compete for 2,500 USDT USDT Every Week

Grab Up to 5,000 USDT in Rewards