Will Bitcoin Set a New All-Time High This Month? Experts Weigh In
On May 19, Bitcoin briefly surpassed $107,000 — just roughly $2,000 shy of its all-time high — sparking a wave of expectations that BTC could set a new record within May. Meanwhile, Ethereum hovered around $2,400, Solana traded near $170, and several altcoins posted short-term gains before pulling back. The market remained highly volatile: over the past 24 hours, total liquidations reached $577 million, with $351 million in long positions and $227 million in shorts liquidated (per Coinglass data).
On May 19, Bitcoin briefly surpassed $107,000 — just roughly $2,000 shy of its all-time high — sparking a wave of expectations that BTC could set a new record within May. Meanwhile, Ethereum hovered around $2,400, Solana traded near $170, and several altcoins posted short-term gains before pulling back. The market remained highly volatile: over the past 24 hours, total liquidations reached $577 million, with $351 million in long positions and $227 million in shorts liquidated (per Coinglass data).
Sentiment Is Shifting Bullish
Prediction market Polymarket reflects growing optimism, with a 52% probability that Bitcoin hits $110,000 in May — up sharply from 37% just two days prior. The odds of BTC clearing $115,000 this month also climbed to 20%. Total trading volume on Polymarket reached approximately $15 million, signaling rising investor interest.
Arthur Hayes: Altcoin Season Starts After Bitcoin Clears $110,000
BitMEX co-founder Arthur Hayes told Fortune that altcoin season won't begin until Bitcoin breaks $110,000 and continues rallying into the $150,000–$200,000 range — a scenario he expects to play out this summer or early Q3. Only then, he argued, will fresh capital start rotating into altcoins. Hayes also projected Bitcoin could reach $250,000 by end of 2025 and as high as $1 million before Trump's next term ends in 2028. Gold makes up roughly 20% of his portfolio, and he believes ETH could outperform SOL in the next growth cycle.
Traders and Analysts See Downside Risk as Limited
Trader James Wynn posted on X that he'd love to see BTC dip below $100,000 to add to his position, but doubts that pullback will materialize. Meanwhile, on-chain analytics firm Glassnode noted that Bitcoin perpetual futures funding rates remain neutral (around 0.007%), indicating long positioning is not yet overheated and the trend remains healthy.
Bitcoin's Long-Term Outlook
Prominent analyst Willy Woo argued that Bitcoin's era of hypergrowth — like 2017 — is behind it. Since institutions began accumulating BTC in 2020, Bitcoin's compound annual growth rate (CAGR) has dropped from over 100% to roughly 30–40%. He forecasts that over the long run, Bitcoin's CAGR will stabilize around 8%, and it may take another 15–20 years for BTC to reach "equilibrium" as a mature macro asset.
Will Altseason Actually Come?
Not everyone is convinced altcoins are about to explode. Grayscale head of research Zach Pandl told Decrypt that Bitcoin dominance will likely stabilize in the 60%–70% range, especially amid macro uncertainty where BTC is increasingly viewed as a safe-haven asset. That outlook has many skeptical about an imminent altseason.
Meanwhile, CryptoQuant analyst Axel Adler Jr. noted that short traders are showing significantly more caution compared to the 2021 bull run — a sign of elevated risk aversion that is often read as a bullish signal.
Conclusion
With elevated volatility, sentiment gradually tilting toward buyers, and cautious optimism from industry experts, Bitcoin's price action over the coming weeks will be the most-watched storyline in crypto. Will it ignite an altcoin season, or continue cementing its dominance? The answer remains open — but one thing is clear: the market is heating up again.