Crypto prices failed to break through key resistance levels during Monday’s rally, fueling speculation over whether the bull market is over.
Bitcoin is currently consolidating within a symmetrical triangle, marked by lower highs and higher lows, just below a key resistance zone, a classic sign of market indecision that often precedes a sharp breakout or breakdown.
However, the uncertainty hasn’t shaken bullish conviction among smart money investors. A rapidly improving global macro backdrop, rising liquidity, and continued whale accumulation of Bitcoin and large-cap altcoins suggest the crypto bull market remains intact.
Analysts believe the most substantial gains may still lie ahead, with Ethereum and XRP emerging as top altcoins to watch that could push higher rapidly in June.
It will also be interesting to see whether low-cap gems continue to post explosive gains – a hallmark of a healthy bull market. One standout is Solaxy (SOLX), which has already raised over $54 million in its presale and is set to launch on June 23.
It’s set to attract major attention, with many already calling it the next 10x crypto.
Proof That The Crypto Bull Market Isn’t Over
A defining feature of a bull market is aggressive accumulation by whales.
For instance, on-chain data analysis platform Santiment reveals that BTC whale accumulation is on the uptick once again, after three straight months of decline. Over the past 4 weeks, 622 new wallets with over 10 BTC have cropped up.
Bitcoin has surged as high as $108,947 with traders continuing to await another challenge of last month's $112,000 all-time high. Interestingly, after 3 months straight of declining whale & shark numbers, the $BTC network has 622 more 10+ $BTC wallets in just under 4 weeks. pic.twitter.com/NpKkC5zsj9
— Santiment (@santimentfeed) June 16, 2025
Meanwhile, CryptoQuant has reported that Binance whale and retail Bitcoin inflows are at their lowest levels since 2024. Both whales and retail investors are showing a strong preference to hold rather than sell their BTC holdings.
Whales’ bullish conviction is also visible across other major altcoins. For instance, Ethereum whales are showing a level of aggressive buying that hasn’t been seen since 2017.
Ethereum whales have been accumulating aggressively for nearly a week, with daily inflows consistently exceeding 800,000 ETH. Wallets holding between 1,000 and 10,000 ETH now control over 14.3 million ETH.
BlackRock’s ETHA ETF is also recording staggering inflows. Since May 7th, it hasn’t had a single daily outflow and has added over $1 billion in inflows.
Ethereum clearly stands out as one of the top altcoins to invest in, with its price seemingly poised for a major repricing.
Similarly, data from Santiment reveals that XRP’s whale holdings are soaring. There are now more than 2700 wallets holding at least 1 million XRP, the highest in the asset’s 12-year history.
Besides the whale accumulation pattern, the global macroeconomic outlook strongly indicates that the crypto bull market will soon pick up pace. Popular macroeconomist Tomas highlights that the Global Economic Index is rising rapidly, an indicator which has a strong correlation with risk assets.
Meanwhile, GMI’s Julian Bittel’s Global M2 money supply chart, which also has a strong correlation with Bitcoin, highlights that the global liquidity is rising rapidly, and the BTC price could rally to $160,000.
Why Solaxy Is A Top Altcoin To Watch In June?
During a bull market, new low-cap gems deliver outlandish returns, turning small-scale investors into millionaires.
For instance, the Useless Coin (USELESS) has rallied by more than 152,000% from its listing price in just over a month, reaching an all-time high market capitalization of over $100 million.
If this trend continues, it will be another signal that the crypto bull market is still ongoing. For instance, Solaxy (SOLX), a Solana meme coin with Layer-2 utility, is set to go live on June 23rd after raising over $54 million in its presale.
In 7 days, $SOLX goes live.
This is your last chance.https://t.co/22aK0SnRLD pic.twitter.com/cfw0d7ihHW
— SOLAXY (@SOLAXYTOKEN) June 16, 2025
SOLX is currently one of the top altcoins to watch, considering it has seen significant whale investments throughout the duration of its presale. Many deep-pocketed investors have poured six figures into it.
Analysts believe that Solaxy could be a key part of the Solana ecosystem, owing to its cutting-edge Layer-2 solution. Meanwhile, the project has also announced its competitor to PumpFun, called the Igniter Protocol.
SOLX holders can now launch their own meme coins, which will trade on the new Solaxy DEX.
Solaxy is building a full-stack ecosystem within Solana and is, therefore, being viewed by many as the next 10x crypto, especially since the bull market is still intact.
Visit Solaxy Presale
This article has been provided by one of our commercial partners and does not reflect Cryptonomist’s opinion. Please be aware our commercial partners may use affiliate programs to generate revenues through the links on this article.
