Bitcoin Nears ATH as SEI Explodes 70% – Is a New Altcoin Cycle Here?

The cryptocurrency market has entered the summer of 2025 with palpable momentum. Bitcoin (BTC), the bellwether of digital assets, remains firmly above the $100,000 mark and is hovering within 5% of its all-time high. Altcoins have seen a renewed surge, particularly SEI, which has soared more than 70% in the past two weeks. Meanwhile, meme coins continue to captivate retail traders, with FARTCOIN maintaining strong trading volume despite lacking developmental progress.

This article unpacks the latest market data, technical indicators, and macroeconomic trends, offering both accessible insights for crypto enthusiasts and advanced analysis for institutional investors.

Bitcoin Holds Above $100K: Market Structure Remains Intact

Bitcoin’s price action in June has been marked by resilience and strategic accumulation. After a sharp dip earlier in the month, when BTC briefly touched the $99,000 level amid global risk-off sentiment, the digital gold asset quickly rebounded. As of June 29, BTC is trading around $107,200, maintaining a tight consolidation range just beneath its all-time high of approximately $112,000, set in May 2025.

Key Drivers of Bitcoin’s Current Positioning:

ETF Capital Inflows: The introduction of spot Bitcoin ETFs in multiple jurisdictions continues to draw significant institutional capital. Cumulative ETF inflows have surpassed $30 billion year-to-date, with over 20% of that occurring in the past 30 days.
Liquidity Rotation: With risk appetite returning across global markets, capital from equities and traditional commodities has increasingly found its way into BTC. Bitcoin’s correlation with the NASDAQ Composite has strengthened to 0.68, suggesting that broader macro sentiment is influencing crypto performance.
Decreasing Exchange Reserves: Centralized exchange balances of Bitcoin have declined by 7% in Q2 2025, indicating a trend of long-term holding and reduced sell pressure.

Technical Outlook:

From a technical standpoint, Bitcoin’s 50-day moving average remains above its 200-day moving average, confirming the continuation of a long-term bull trend. Momentum indicators such as the RSI are neither overbought nor oversold, suggesting potential for further upside without immediate risk of a reversal.

If Bitcoin breaches the $110,000–$112,000 resistance zone with significant volume, analysts expect a price discovery phase that could push the asset toward $120,000 in Q3.

SEI Rockets 70% in Two Weeks: The Layer-1 That Won June

Among all altcoins, SEI Network has emerged as the undisputed winner of the June rally. Its price jumped from $0.17 to $0.29, marking a 70% increase in just over two weeks, significantly outperforming both Bitcoin and Ethereum during the same period.

What Drove the SEI Explosion?

Institutional Partnerships: SEI was chosen by the Wyoming Stable Token Commission to power its upcoming digital dollar pilot program (WYST). This government-backed initiative represents the first U.S. state-led experiment with a fully operational stablecoin, lending SEI both regulatory credibility and real-world use case traction.
DeFi Growth: Total Value Locked (TVL) in SEI-based protocols increased by 73% in Q2, rising from $210 million to $363 million. This rise was driven by new DEX launches and lending protocols, where SEI consistently ranks among the top three Layer-1s by on-chain fee revenue.
Network Activity: Daily active wallet addresses on SEI surged 48% month-over-month, reaching an all-time high of 2.3 million in June. Transaction finality times remain among the fastest in the market, averaging 400–500 milliseconds.
Market Structure: Technically, SEI broke out of a long-term descending wedge formation. The breakout was accompanied by volume spikes, validating its move. RSI readings remain under 70, indicating there’s room for further growth without hitting overbought conditions.

Forward-Looking Considerations:

If the WYST program succeeds and gains interstate interest, SEI could become the de facto Layer-1 for state-sanctioned stablecoin applications.
At a fully diluted market cap (FDMC) of approximately $1.6 billion, SEI still trades at a significant discount to competitors like Sui and Aptos, despite showing superior user and transaction metrics.
Analysts predict that SEI could consolidate above the $0.30 psychological level before attempting to challenge $0.35 or even $0.40 in the short term.

Ethereum Steady but Primed for a Breakout

Ethereum, while not as explosive as SEI this month, has seen a consistent uptrend. ETH currently trades near $2,430, up roughly 9% in June and 30% year-to-date. The broader Ethereum ecosystem is benefitting from anticipated protocol upgrades and a resurgence of DeFi capital.

Catalysts Supporting Ethereum’s Trajectory:

EIP-7782 Upgrade: Ethereum developers are preparing for a major update that will cut block confirmation times by 50%, from 12 seconds to 6 seconds. This upgrade, aimed at reducing latency and increasing transaction throughput, could significantly enhance Ethereum’s competitiveness against faster blockchains like Solana and Avalanche.
Restored DeFi Confidence: With the resurgence of capital in lending platforms and DEXs, Ethereum’s TVL has recovered to over $90 billion, up from $63 billion at the start of the year.
Staking Dynamics: Over 36 million ETH are now staked, representing more than 30% of the circulating supply. The Ethereum staking yield remains competitive at approximately 4.1% annually, reinforcing the asset’s appeal to long-term investors.

Technical Perspective:

ETH/USD has printed a bullish flag pattern, with price holding above both the 20-day and 50-day EMAs. A close above $2,500 could trigger a technical breakout toward the $2,700–$2,900 resistance zone, particularly if Bitcoin confirms a new ATH.

Meme Coins Refuse to Die: FARTCOIN Remains a Retail Favorite

Meme coins, once dismissed as passing jokes, continue to command a significant portion of trading volume on decentralized exchanges. FARTCOIN, a satirical token with no roadmap, team, or whitepaper, has seen daily volumes exceed $60 million consistently through June.

Why FARTCOIN Persists:

Community Engagement: Despite lacking development updates, FARTCOIN maintains an active social media presence. Viral memes, coordinated buy-ins, and humorous campaigns keep the token trending across platforms like X (formerly Twitter) and Discord.
Low Market Cap, High Volatility: With a market cap under $100 million, FARTCOIN’s price is highly susceptible to speculative pumps. This attracts high-risk traders looking for short-term gains.
Liquidity Depth: Uniswap v4 integrations have made it easier to provide and extract liquidity for meme tokens, lowering the barrier to speculative participation.

However, analysts continue to caution that meme tokens like FARTCOIN are highly speculative instruments and should only constitute a tiny fraction of any serious investor’s portfolio.

Macro Landscape: A Tailwind for Crypto

Crypto’s June performance has been amplified by improving macroeconomic conditions. The Federal Reserve has signaled the likelihood of at least one rate cut in Q3 2025, citing decelerating inflation and modest job growth. Lower interest rates tend to favor risk assets, including equities and cryptocurrencies.

Furthermore, increased regulatory clarity is reducing uncertainty:

Stablecoin Regulation: A bipartisan bill in Congress is expected to pass next month, providing legal definitions for stablecoin issuers and establishing a licensing framework.
SEC Position Softening: The SEC has shown a more cooperative stance toward digital asset ETFs, with multiple spot Ethereum ETFs approved earlier in June, further legitimizing the sector.

Advanced Analysis: Strategic Forecast for Q3 2025

Bitcoin Outlook:

Near-term resistance: $110,000–$112,000
Breakout target: $120,000–$125,000 if ETF flows remain consistent
Risk scenario: Pullback to $95,000 support if macro or geopolitical risks flare up

Ethereum Forecast:

Support zone: $2,300–$2,400
Breakout potential: $2,700+ with EIP-7782 launch and DeFi resurgence

SEI Projections:

Consolidation: $0.27–$0.30 range in near term
Bullish target: $0.40+ with WYST success and TVL continuation
Bearish scenario: Reversal to $0.20 if momentum fails or regulatory hurdles arise

Investor Takeaways

Diversification is key: While BTC remains the safest play, Ethereum and high-conviction altcoins like SEI offer superior upside with calculated risk.
Follow fundamentals: SEI stands out not just for its price action but for its network activity, institutional adoption, and technical performance.
Treat memes with caution: Meme coins like FARTCOIN can be entertaining and even pr

Final Thoughts

June 2025 marks a turning point for digital assets. The market is no longer rallying on speculative fumes alone—real use cases, institutional engagement, and macroeconomic alignment are combining to power the current uptrend. Whether you’re a newcomer drawn by meme mania or a seasoned investor tracking ETF flows and Layer-1 metrics, the crypto market of mid-2025 offers opportunities—but also demands discernment.

As Bitcoin teeters below its all-time high, Ethereum readies for a transformative upgrade, and SEI breaks into the institutional spotlight, the crypto ecosystem continues to evolve at a pace few other sectors can match. Buckle up—Q3 could be just as explosive.