Arthur Hayes, co-founder of BitMEX, said the long-awaited altcoin season has already started, even though many traders believe it has not. Speaking recently, Hayes said investors are still waiting for a repeat of past cycles, where the same tokens and stories dominated the market. According to him, this mindset is causing traders to miss real opportunities happening right now.
“There is always an altcoin season happening, and always saying altcoin season isn’t there, because you didn’t own what went up.”
Arthur Hayes.
Hayes explained that many market participants feel comfortable when history repeats itself, because it gives them a clear playbook. But he warned that crypto cycles evolve. “This is a new season, new things pump,” he said, urging traders to focus on fresh projects and new narratives instead of expecting old patterns to return.
New Winners Are Driving This Cycle
As an example, Hayes pointed to Hyperliquid (HYPE), calling it one of the strongest stories of the current cycle. He noted that the token launched at around $2–$3 before surging to nearly $60, showing that major gains have already happened outside the spotlight of traditional “altcoin season” expectations.
Hayes also highlighted Solana (SOL), which collapsed to around $7 after the 2022 market downturn before rallying to nearly $300 earlier this year. His message was clear: altcoin season did happen, many traders simply failed to take part because they were waiting for it to look like the past.
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