Is This the Start of Altseason 2.0?

PLUS: Over 92% of BlackRock's BUIDL fund is tokenized on Ethereum

Hi Investor 👋

welcome to a ✅ free edition ✅ of Altcoin Investing Picks, the most actionable crypto newsletter.

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In today's newsletter:

• 💡 Is This the Start of Altseason 2.0?

• 📣 US 30-Year Yield Hits Highest Since 2003 After Moody’s Downgrade

• 📈 Over 92% of BlackRock's BUIDL fund is tokenized on Ethereum

Let’s dive in!

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💡 Insight

Is This the Start of Altseason 2.0?

For the first time since Q4 2023, we’re seeing sustained rallies across altcoins and memecoins. And something critical just happened: BTC dominance may have peaked.

Source

If this is the beginning of true altseason, there’s still a long runway ahead.

Signals

We’ve been here before. And there are 5 key signs that tell us altseason might be loading:

1. Late-stage cycle dynamics. Risk starts rotating outward.

2. BTC dominance peaks. Historically around 65–70%—we’re hovering there now.

3. Shift from QT → QE. Liquidity wants out of bonds and into high-beta assets.

4. Rising ETH/BTC ratio. Smart money rotates before retail notices.

5. Retail reawakens. We’re already seeing this in memes, Discords, and volume.

Right now, we’re still early. ETH/BTC is just 0.024. ETH is trading at a 46% discount from ATHs. The Fed is still doing QT.

But the 20% move ETH made last week rhymes with January 2021—when ETH jumped 68% in 7 days… and never looked back.

Back then, ETH/BTC ran from 0.03 → 0.07 in four months. ETH/USD followed with a 370% rally.

That spark lit the match for NFTs, metaverse tokens, DeFi 2.0, and alt L1s. Altseason went full send.

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How We’re Playing This

We’re not aping into everything. But we are positioning now—before retail floods in.

Here’s our playbook:

• ✅ Avoiding BTC. It's unlikely to outperform from here. Focusing on ETH, SOL, etc.

• ✅ Targeting narratives (e.g. SUI, VIRTUALS), tokens with fundamentals (e.g. Raydium, Pendle)

• ✅ Leveraging memes (e.g. BONK, PEPE)

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But Let’s Be Real — There Are Risks

This setup could break bullish. But if it doesn’t, you need to be ready.

🚧 Key risks we’re watching:

1. BTC must make new highs

2. Rising yields: could weigh on valuations in crypto and equities.

3. Stablecoin legislation blocked

So no—we’re not “all in.” But the setup here is asymmetric: modest exposure with potentially outsized upside.

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📣 Update

US 30-Year Yield Hits Highest Since 2003 After Moody’s Downgrade

Source

This is because investors now forecast a longer term term of elevated inflation.

Moody’s announced Friday evening it was downgrading the US to Aa1 from Aaa, reinforcing Wall Street’s growing worries over the nation’s fiscal outlook.

→ Read more

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📈 Signal

Over 92% of BlackRock's BUIDL fund is tokenized on Ethereum

Source

Ethereum remains the undisputed leader in the RWA sector.

Are you buying ETH?

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Thanks for reading!

See you next time