As Bitcoin and Ethereum hover near critical resistance levels, market sentiment is shifting rapidly. Analysts are now calling for an incoming Altseason, with bullish momentum building across the board, even as macroeconomic uncertainty continues to rattle global markets. Despite rising treasury yields and geopolitical tensions, crypto assets are showing strength, and altcoins appear poised to benefit next. Related Reading: Ethereum Nears Critical Price Level – Reclaiming $3,000 Would Spark A Market-Wide Rally Top analyst Axel Bitblaze has spotlighted May 30th as a potentially defining moment in this cycle. This week, over $5 billion in stablecoins will be distributed to FTX creditors—a massive injection of liquidity representing nearly 2% of the entire stablecoin supply. Unlike previous events, this capital is expected to stay within the crypto ecosystem. Most of these investors remained in crypto despite the FTX collapse. Now, as they regain access to their funds, many are likely to rotate that capital back into the market. With Bitcoin targeting $120K and Ethereum challenging the $3,000 level, the stage is set for capital to flow into high-beta altcoins and push for an Altseason. Altcoins Setup Strengthens Ahead Of $5B FTX Liquidity Injection The FTX collapse in late 2022 was a brutal event, marking the climax of the previous bear market. It triggered mass panic, billions in liquidations, and the final capitulation that ultimately set the bottom of the cycle. While devastating in the short term, it paved the way for recovery. Now, nearly two years later, May 30th may become the most important day of this new phase. FTX is distributing over $5 billion in stablecoins to creditors this week—a long-awaited step in the bankruptcy process. These payouts represent nearly 2% of the total stablecoin supply and will hit the market in one large wave. But this isn’t just idle money returning to passive holders. Most of these users remained in crypto through the storm. They didn’t leave—they adapted, held, and now, they’re getting liquidity back in the middle of a bullish setup. The timing couldn’t be better. Ethereum is pumping, flirting with a critical resistance level that, if broken, could confirm a major move for altcoins. Bitcoin is hovering near its all-time highs, altcoins are gaining serious traction, pro-crypto narratives are heating up in Washington, and regulatory progress is finally in motion. Everything is aligning at once. Bitblaze explains that this $5B return of capital could be the exact catalyst the market needs. In his view, this sudden injection of liquidity could send Bitcoin toward $120K—and unlock the altseason traders have been waiting for. Related Reading: Solana Funding Rates Turn Negative – Early Sign Of Selling Pressure? Ethereum Eyes $2,700 Breakout As Altseason Momentum Builds Ethereum (ETH) is currently trading at $2,638, consolidating just below a key resistance zone at $2,700. After a sharp rally in early May, ETH has held its gains and formed a solid base above the 34 EMA ($2,331) and key moving averages. The 200-day SMA, sitting at $2,697, now acts as a critical ceiling for price action. A clean breakout above this level would mark the first major reclaim of the long-term trend line since the bull cycle resumed, potentially unlocking a powerful continuation for ETH and the broader altcoin market. Volume has remained steady throughout this consolidation phase, indicating buyer interest and positioning ahead of a decisive move. ETH’s structure shows higher lows and strong bullish follow-through, suggesting that momentum is building just beneath the surface. Related Reading: Bitcoin UTXO Signal Approaches 99% Level – Bullish Signal Or Profit-Taking Setup? If Ethereum can close above $2,700 with conviction, it would not only confirm a breakout but could also trigger broader market rotation into altcoins. Historically, ETH breaking above major resistance levels has been a strong leading indicator for altseason. With Bitcoin hovering near ATHs and macro conditions favoring digital assets, ETH’s next move could be the spark that ignites a new wave of altcoin rallies across the board. Featured image from Dall-E, chart from TradingView
Data shows the cryptocurrency market has witnessed massive liquidations during the past day following the recovery Bitcoin and the altcoins have made. Bitcoin & Altcoins Have Jumped Back Following Trump’s Announcement Bitcoin and the rest of the cryptocurrency sector ended February on a very bearish note, as the market went through a deep drawdown that took BTC to as low as $78,000. In a flash, however, the digital assets have seen their fates flip during the past day. Related Reading: Solana Now Retesting Realized Price: Will Shift To Bear Market Happen? The impetus behind the recovery move has been Donald Trump’s announcement of a Crypto Strategic Reserve that includes Bitcoin, Ethereum (ETH), XRP (XRP), Solana (SOL), and Cardano (ADA). The announcement came through the president’s official Truth Social handle. In the initial post, Trump only mentioned the altcoins XRP, SOL, and ADA, but in a follow-up post, he also confirmed BTC and ETH, saying they will be “the heart of the Reserve.” Since the US elections, the Crypto Reserve has been something much-anticipated in cryptocurrency circles, so it’s not surprising that the news has been able to have a drastic effect on trader mood. From the graph, it’s visible that Bitcoin approached the $95,000 level during the surge, but its price has since witnessed a small pullback to $92,800. Ethereum has displayed a similar pattern, although its retrace from $2,550 to $2,360 has been notably larger than BTC’s. Overall, the top two cryptocurrencies are up 8% and 6% during the last 24 hours, respectively. Interestingly, XRP, SOL, and ADA, the three coins initially announced, have shown much stronger rallies of 17%, 13%, and 48%, respectively. The bullish momentum hasn’t been restricted to just these five included in the Reserve, as coins across the space have observed some degree of rise. A consequence of all this volatility has been that liquidations have piled up on derivatives platforms. Crypto Derivatives Market Has Just Seen $971 Million In Liquidations According to data from CoinGlass, a total of $971 million in cryptocurrency derivatives contracts have found liquidation in the past day. “Liquidation” here refers to the forceful closure any open contract undergoes after it has amassed losses of a certain degree. Below is a table that breaks down the relevant numbers related to the latest mass liquidation event. As is visible above, around $558 million of these liquidations involved the short investors, representing over 57% of the total. These traders making up for the majority of the event is naturally expected, as the market has gone up inside this window. Though, despite the bullish action, around $412 million in long holders still got liquidated as a result of the pullback. Related Reading: Bitcoin Whales Buying The Dip: $1.28 Billion Added Below $90,000 In terms of the individual symbols, Bitcoin and Ethereum have predictably come out on top with $353 million and $182 million in liquidations, respectively. Featured image from Dall-E, CoinGlass.com, chart from TradingView.com
Some cryptocurrencies are already displaying signs of an early altseason, including Hedera’s HBAR, which has rallied 763% in the past month.
On-chain data shows that XRP and Cardano whales have been accumulating recently, which can be bullish for the prices of these altcoins. XRP & Cardano Whales Have Gone On A Buying Spree Recently As analyst Ali explained in a new post on X, XRP whales have seen their holdings go up over the last couple of weeks. The indicator of relevance here is the “Supply Distribution” from the on-chain analytics firm Santiment, which tells us about the total amount of assets the different market groups hold. Related Reading: Bitcoin Not Out Of Danger Yet, NVT Golden Cross Warns The whale cohort is of interest in the current discussion. These investors hold between 1 million and 10 million XRP in their balance. At the current exchange rate, these amounts are worth around $0.52 million and $5.2 million, respectively. Clearly, these are pretty significant holdings, which is why whales are considered influential in the market. Now, here is a chart that shows how the Supply Distribution of the entities belonging to this XRP group has looked like recently: The graph shows that while the XRP price has been stuck in consolidation during the last couple of weeks, the whales have been viewing the opportunity as a buying one. These humongous investors have scooped up over 110 million cryptocurrency tokens (equivalent to almost $57 million) inside this window. This buying scale isn’t particularly massive, but the fact that these investors have been backing the coin through this poor period should be an optimistic sign. It would also appear that XRP isn’t the only one on the large holders’ radar recently. Market intelligence platform IntoTheBlock revealed in an X post that Cardano has also seen a significant buying push. In the above chart, IntoTheBlock displays the holdings of the Cardano investors, which are between 100 million and 1 billion ADA. This range’s bounds convert to about $45.3 million and $453 million, respectively, so these whales would be much more massive than the XRP ones just discussed. As is apparent from the graph, these ADA entities have expanded their holdings over the past month. More particularly, their supply has grown by 11% in this period, which, when considering the scale of the total holdings of this group, is an enormous increase. According to the analytics firm, these Cardano whales now control 6.71% of the entire circulating supply of the cryptocurrency all by themselves. Related Reading: Bitcoin Hash Ribbons Form Capitulation Signal: What It Means This latest buying push towards XRP and ADA from the whales simultaneously could be a potential sign that these large entities are expecting an altcoin rally soon. Given that Cardano has seen it happen at a much more significant scale, the coin could likely see better returns than XRP if a surge does happen. XRP Price XRP has displayed stale price action recently, as its price has continued to move sideways around the $0.52 level. Featured image from Kanchanara on Unsplash.com, IntoTheBlock.com, chart from TradingView.com