He sees two possible paths: Bitcoin could keep rallying and drain liquidity from altcoins, causing steep drops, or altseason could peak, triggering a broader market pullback before BTC resumes its climb. Meanwhile, Chainlink (LINK) surged 44% in a week, fueled by bullish sentiment and a new partnership with Intercontinental Exchange to bring market data on-chain. Analysts see LINK as a major large-cap opportunity, with potential short squeezes and growing institutional adoption driving optimism for even more gains.
Mow Predicts Bitcoin Surge or Altseason
Bitcoin surged to a fresh all-time high of close to $124,500 in early Thursday trading, and lifted the total cryptocurrency market capitalization to $4.15 trillion. According to Bitcoin pioneer Samson Mow, the market now stands at a critical juncture, with two potential paths ahead: either Bitcoin continues its meteoric rise into uncharted territory, draining liquidity from altcoins and causing them to tumble by 30–40%, or the ongoing altcoin rally reaches its peak, which will trigger a sharp sell-off in the broader market that briefly pulls BTC lower before it resumes its climb.
Mow is known for his unwavering Bitcoin maximalism, and took aim at Ethereum by suggesting its current valuation is unsustainable when measured in BTC terms. He argued that ETH is approaching a psychological ceiling that will make it increasingly difficult to break new highs, as the closer it gets, the more selling pressure builds from profit-taking investors.
BTC’s price action over the past month (Source: CoinMarketCap)
On the other hand, Mow believes Bitcoin does not face the same limitation. Despite his criticisms, ETH still outperformed Bitcoin over the past few weeks. The altcoin climbed 59% over the past month compared to Bitcoin’s modest 4.3% gain.
The Jan3 CEO also warned that altcoins are “running too hot” and predicted a pullback before Bitcoin makes another push upward, and pointed out that this cyclical pattern has been a consistent feature of past bull markets. Bitcoin dominance already slipped below 60% for the first time since January, which is historically a signal that altseason is underway.
Some market analysts agree that Bitcoin could cool off in the short term, with attention shifting more toward Ethereum, DeFi tokens, and tokenized real-world assets. Apollo Capital’s Henrik Andersson pointed to record-high total value locked in DeFi, rising revenues, and favorable regulation as catalysts for continued outperformance in the sector.
Nick Ruck of LVRG Research mentioned that BTC may consolidate near current levels as altcoin trading volumes surge. With Bitcoin’s 30-day annualized volatility now at just 23%, it looks poised to act as a low-beta anchor while speculative capital chases higher returns elsewhere in the crypto market.
LINK Poised for Another Rally?
Mow’s theory that altseason could pick up steam may be right as Chainlink (LINK) seems poised for another aggressive rally after surging 44% in the past week. Crypto trader Johnny described LINK as “ready for round 2” after it hit $24.60, and called it a clear large-cap opportunity in the current market. Blockchain analytics firm Santiment also pointed out that Chainlink is experiencing its highest level of bullish sentiment since February, with prices climbing 54% over the past 30 days.
According to CoinGlass data, a further 6.2% rise to $25.50 could trigger the liquidation of approximately $61 million in short positions, which could potentially fuel more upside momentum. Even with recent gains, Chainlink is still 55% below its May 2021 all-time high of $52.88. It joins other major cryptocurrencies like Stellar, Hedera, and Litecoin that have yet to reclaim their peaks from the previous cycle. Analysts suggest that many holders from 2021 may wait for prices to revisit those highs before selling.
LINK’s price action over the past 30 days (Source: CoinMarketCap)
Despite this, some traders believe Chainlink could climb even more. Crypto analyst Miles Deutscher called LINK “the most obvious large-cap play for this cycle” and warned that “most people will miss it.” He attributed this potential to Chainlink’s role as a key beneficiary of the growing institutional adoption of crypto, alongside the rapid expansion of stablecoins, tokenization, and real-world assets (RWAs).
Recent developments encouraged the bullish outlook. On Monday, Chainlink announced a partnership with Fortune 500 giant Intercontinental Exchange (ICE) to deliver foreign exchange and precious metals market data on-chain. This aligns with co-founder Sergey Nazarov’s vision that asset tokenization will accelerate capital flows across traditional markets and increase capital velocity in sectors like treasuries, equities, private credit, commercial debt, and real estate.
With these fundamental drivers and market sentiment aligning, traders are closely waiting in anticipation to see whether LINK can extend its rally toward reclaiming past highs.
