Altcoin Season Is Starting as Bitcoin Soars to $123,000: Which Crypto to Buy Now?

Bitcoin (BTC) has hit the $123,000 mark for the first time in history, as the market-leading cryptocurrency continues the price discovery phase that began after BTC started hitting new all-time highs last Wednesday. Bullish news updates and key market data, from a frenzy of ETF inflows to the start of “Crypto Week” on Capitol Hill, have driven BTC more than $10,000 beyond its May 22 peak – and the smartest traders have already begun rotating profits into altcoins, igniting a broad market rally.

The total crypto market cap is now attempting to break the $3.8 trillion level, while altcoin prices across the board have surged over the last several days. Top-ranking coins like Ethereum (ETH), XRP (XRP), Dogecoin (DOGE), and even Cardano (ADA) have all gained at least 20% week-on-week – and holders of Solana (SOL, up around 10%) are also celebrating double-digit wins.

Although Bitcoin is currently in the spotlight due to its rapid-fire series of new all-time highs, a new altseason is now on the horizon – so investors are continuing to search for the market’s most profitable opportunities.

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Bitcoin Rally to New All-Time High Sparks Altcoin Bull Runs

Bitcoin’s explosive rise to an all-time high over $123,000 today has added to a constantly expanding list of achievements for BTC bulls.

Smart money is continuing to accumulate Bitcoin (with US spot ETFs registering $2.21 billion in net inflows last Thursday and Friday), and macroeconomic winds are also blowing in crypto’s favor. For example, the US Dollar Index recently logged its worst H1 performance in over 50 years – helping to boost demand for risk assets even further.

While Bitcoin pumps and Wall Street keeps buying, top investors have also been rotating into altcoins – as demonstrated by the ETH/BTC trading pair. After declining to a five-year low of 0.017 BTC on April 22 this year, ETH/BTC is now up more than 40% following a sudden bounce and extended consolidation period.

ETH/BTC has also broken above some important short-term trend indicators (including the 20-day and 50-day exponential moving averages), indicating that momentum is still shifting toward Ethereum. Meanwhile, the ETH/USDT pair (which measures ETH’s value in US dollars) is hovering around $3,000 – up around 20% since last Monday.

Institutional flows corroborate this trend, as crypto investment products saw a huge $3.7 billion in total inflows last week. While Bitcoin dominated with a $2.7 billion share, Ethereum products also experienced one of their strongest weeks, attracting $990 million – and Solana funds brought in $92.6 million, showing massive demand in the altcoin sector.

Keeping this in mind, we’ve reviewed five of the best altcoins to buy during this historic crypto bull run.

Bitcoin Hyper

Leading our list of top altcoins is Bitcoin Hyper (HYPER), a Layer 2 (L2) solution that will turbocharge Bitcoin’s network with Solana-like speed.

Bitcoin Hyper’s architecture will leverage Solana’s Virtual Machine (SVM), and use a trustless bridge to anchor into the Bitcoin mainnet. Users will be able to have their BTC represented on the Bitcoin Hyper network, transact with it at high speeds, then settle back to Bitcoin’s immutably secure Layer 1.

By offering near-instant finality, Bitcoin Hyper plans to solve Bitcoin’s well-documented limitations regarding throughput and utility. This means developers can build decentralized apps, DeFi protocols, and even NFT projects that run on a Bitcoin-linked Layer 2 at speeds that have not been possible on Bitcoin up to this point.

The HYPER token will power all transactions and smart contracts on Bitcoin Hyper’s Layer 2, and offer governance rights to its holders. As investors recognize the potential of this token, the Bitcoin Hyper presale has already raised more than $2.7 million.

You can still buy HYPER for just $0.01225 per token before the next presale round moves the price higher. Investors can also stake their HYPER to generate an annual yield of up to 312%. Visit Bitcoin Hyper.

Ethereum

Next on the list is Ethereum (ETH), the blue-chip Layer 1 blockchain that introduced programmable smart contracts, becoming the backbone for today’s DeFi, NFT, and wider dApp ecosystem.

ETH recently broke above the psychological $3,000 barrier, setting its highest price level in over five months. This revival has significantly improved its near-term technical outlook: ETH recently flashed a golden cross (a classic signal of positive momentum) as its 50-day EMA climbed above the 200-day EMA.

Supporting this bullish outlook, ETH has generated daily trading volumes of more than $33 billion while its price surges – a clear sign of strong buying conviction as investors rotate into top altcoins.

Crucially, institutional capital is flowing into Ethereum at an impressive pace, as US spot ETH ETFs have already seen total net inflows of over $1.1 billion so far this month. If network activity and investor optimism remain high, ETH could easily break above $3,500 during the coming weeks.

Best Wallet Token

Best Wallet Token (BEST) is a promising utility token native to the Best Wallet app – a comprehensive and non-custodial crypto management solution that comes equipped with institutional-grade security.

The Best Wallet platform has already attracted over 500,000 users by addressing a major pain point (managing crypto portfolios across multiple blockchains with ease), and supporting more than 60 networks (from Ethereum and Bitcoin to Solana, BNB Chain, and more) in one interface.

It even connects to over 330 decentralized trading protocols, providing a smooth Web3 experience without the usual technical clutter, while its “Upcoming Tokens” section curates new crypto presales and lets users participate directly within the app.

All this utility has translated into a massively successful token presale for BEST, as it’s already brought in over $13.8 million from enthusiastic investors. The BEST token has clear use cases: it will be used to pay transaction fees (with discounts) within the app, govern future feature upgrades, and unlock premium perks like maximized staking yields and early access to new opportunities via “Upcoming Tokens.”

You can buy BEST for $0.025325 before the scheduled price increase in the next presale round. Holders can stake BEST for a dynamic APY of up to 99%. Visit Best Wallet Token.

Solana

Another top crypto to watch is Solana (SOL), a Layer 1 blockchain that’s making a comeback after overcoming challenges during the previous bear cycle. Known for its high throughput and ultra-low fees, Solana provides the kind of scale that advanced DeFi and gaming applications need.

SOL’s price has jumped roughly 10% over the past week, climbing beyond $160 per coin. In doing so, it decisively pushed above its 200-day EMA after breaking out of a bullish flag-like pattern.

In the meantime, institutional investors are regaining confidence in Solana’s prospects – especially as its speed and scalability make it a good potential fit for asset tokenization projects. Research firms like Bitwise have already acknowledged Solana as a platform that could support tokenized stocks, bonds, and real estate at scale – which bodes well for the network’s future as the $257 trillion traditional asset market begins moving on-chain.

Snorter Token

Rounding out our list is Snorter Token (SNORT), the utility token of Snorter Bot – a Solana-powered crypto trading bot based on Telegram.

The bot’s users can deploy sniping commands to buy newly launched tokens within seconds of release, and even set up stop-loss and take-profit orders to manage risk. Snorter Bot will also allow users to automatically copy-trade the transactions of top-performing wallets – all without leaving the Telegram interface.

Early investor interest has helped the SNORT token presale raise more than $1.6 million in a relatively short time. Buyers have a limited chance to secure SNORT for $0.0981 before the next presale round begins.

As security in the Web3 space is crucial, Snorter Bot comes with a built-in scam detection algorithm. In beta tests, the bot’s code analyzer was able to identify honeypot scams with about 85% accuracy.

Another reason investors are flocking to the SNORT token’s presale is Snorter Bot’s fee structure. Typically, decentralized trading bots on Solana charge between 1% and 2% per trade in fees – but Snorter Bot will charge only 0.85% per trade for users who hold the SNORT token (versus 1.5% if you don’t hold SNORT).

Investors can also stake their SNORT for up to 207% APY immediately, without needing to wait for the presale to end. Visit Snorter Token.

This publication is sponsored. CryptoDnes does not endorse and is not responsible for the content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any action related to cryptocurrencies. CryptoDnes shall not be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any content, goods or services mentioned.

Nikolay Kolev

Nikolay is a crypto enthusiast, with a keen interest in emerging technologies and investment strategies. He holds active positions across various crypto exchanges, regularly analyzing and investing in promising new projects and meme cryptos. Nikolay is known for his ability to take calculated risks and extract value from unconventional investments, with his highest return being 13X with the $PEPE token. His investment philosophy includes a strategic approach focused on long-term growth, supported by in-depth research of market trends and innovations in crypto and blockchain technologies. Niki actively monitors global market changes and has a deep understanding of cryptocurrency mechanisms and their potential for development.