The Milk Road Show

Bitcoin Dominance + Is Altcoin Season Already Over? w/ Carl Vogel

May 28, 2025
Carl Vogel, General Partner at 6th Man Ventures and crypto expert, delves into the shifting landscape of cryptocurrency. He discusses Bitcoin's increasing dominance and what might be driving its surge, while pondering if altcoin season is nearing its end. The conversation also highlights innovations in Solana, particularly its groundbreaking transaction finalization system. With macroeconomic trends influencing crypto investments, Vogel sheds light on the opportunities and challenges ahead for investors in this dynamic market.
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INSIGHT

Bitcoin Dominance Surges

  • Bitcoin dominance has surged to about 63%, the highest since 2021, signaling it as a distinct asset class.
  • Regulatory and political support, plus corporate and whale interest, are fueling Bitcoin's strong performance.
INSIGHT

Altcoin Season Timing

  • We just had a mini altcoin season with ETH and SOL up about 70% from recent lows.
  • Altcoin season is likely short-lived and the bigger altcoin surge could come in Q4 or Q1 with more liquidity.
INSIGHT

Risks of Leveraged Crypto Buying

  • Using leverage to buy Bitcoin or altcoins through corporate treasuries or funds carries risks if prices drop and remain low for long.
  • MicroStrategy's long-duration bonds provide safer leverage, but shorter-term leveraged plays on altcoins face higher insolvency risks.
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