“Now is the clearest bull setup in my seven years in crypto,” trader and angel investor “cyclop” told their 578,000 X followers on May 15.

The trader identified four factors that were in alignment: Bitcoin near its all-time high, retail interest near an all-time low, the ETH/BTC ratio breaking a three-year downtrend, and the altcoin index bouncing off a range low.

“Each factor sparked altseason before,” they said before adding that “Now they ALL align.”

“I can’t believe I’m saying this, but I genuinely think we’re finally at the start of altseason,” the trader exclaimed.

Now is the clearest bull setup in my 7 years in crypto:

– BTC near ATH
– Retail interest near ATL
– ETH/BTC broke 3y downtrend
– Alt index bounced off range low

EACH factor sparked altszn before. Now they ALL align.

: Is this the start of next altszn? pic.twitter.com/oessjZXMy4

— (@nobrainflip) May 14, 2025

Altseason Yet?

Firstly, the narrative around Bitcoin has changed, and it is no longer seen as speculative but as a macro hedge and store of value, backed by institutions and stock markets, and a geopolitical asset for countries facing inflation.

Altcoins, especially major layer-1s like Ethereum and Solana, are now viewed as technology platforms, and not “Bitcoin alternatives.”

Add to those two narratives an increase in global liquidity, expanding stablecoin supply, altseason index showing bullish divergence, and retail index near bottom — all of which have historically preceded major altcoin runs.

According to CoinMarketCap’s Altseason Index, it is still Bitcoin season with a rating of 26. However, it has bounced off a low of 15 earlier this month when Ethereum started to move.

CryptoRank’s Altcoin Index shows a similar pattern, with it moving from mid-teens to 27 at the time of writing.

Additionally, the ETH/BTC ratio, which is a measure of Ether prices in terms of Bitcoin, has bounced off a 5-year low of 0.018 to 0.025 over the past couple of weeks.

Meanwhile, Bitcoin dominance has fallen from a 4-year high of 65.4% to 62% in the past week, according to Tradingview.

Altcoin Golden Cross

On May 14, Web3 growth manager Cas Abbé observed the confirmation of an altcoin market capitalization daily golden cross. It happened last time in October 2024, which led to a mini altseason, he added, before cautioning that there could be more sideways action before any major upward momentum.

Altcoin MCap daily golden cross has now been confirmed ✅

It happened last time in October 2024, which led to a mini Altseason.

But no mistake, a golden cross doesn’t immediately start a rally.

In 2024, Alts went sideways for 3-4 weeks before going on a parabolic run.… pic.twitter.com/O4Hv6TOmqk

— Cas Abbé (@cas_abbe) May 15, 2025

Meanwhile, analyst ‘Ash Crypto’ told his 1.8 million X followers that altseason was coming after observing Ethereum gaining 30% over the past week while Bitcoin has made less than 3%.

Crypto markets have cooled a little over the past 24 hours, and altcoins are generally mixed. Those still in the green on Friday morning include Binance Coin, Tron, Sui, and Hyperliquid.

Following the recent Coinbase $400 million breach, it has been revealed that hackers gained unauthorized access to sensitive customer data as early as January.

A person familiar with the matter said the attackers had constant access by bribing customer service representatives, eventually demanding a $20 million ransom.

Culprits Bribed Foreign-Based Support Staff

According to a Bloomberg report, the perpetrators targeted employees and contractors based outside the United States who were part of Coinbase’s business process outsourcing operations.

By paying off a small group of insiders, they were able to get sensitive user information. The stolen data included names, birth dates, addresses, government-issued ID numbers, banking details, account balances, and creation dates. This information could be used to impersonate either Coinbase or its customers and potentially access other financial accounts.

“It’s a major breach, the amount of personal information shared is staggering,” said Mike Dudas, managing partner at web3 firm 6MV and a victim of the attack.

The source claimed that the hackers had access to user data since January, but Coinbase Chief Security Officer Philip Martin disputed this. He explained that once the firm was aware of the information sharing, permission was revoked, hence the culprits did not have constant access throughout the period.

However, he acknowledged that there were multiple bribery incidents, with Coinbase first detecting signs of suspicious activity from the support agents months before the May 11 ransom demand. Following this, the implicated agents were immediately quarantined and fired.

Details From the Breach

The exchange disclosed the situation to the public in a Thursday announcement. In a blog post, it revealed that less than 1% of monthly transacting users were affected by the incident. The attackers aimed to build a list of customers to impersonate Coinbase and trick users into handing over their crypto assets. When the $20 million ransom demand was rejected, the bad actors increased their extortion attempts.

The company clarified that login credentials, private keys, and Prime accounts were not compromised, and no customer wallets were accessed. In response to the breach, Coinbase has said it will reimburse any users who lost money and boost its internal security systems. It also announced plans to open a new U.S.-based customer support hub.

In addition, the firm launched a $20 million bounty for information leading to the attackers’ arrest, tagged stolen funds for recovery, and is working with authorities to pursue criminal charges against the involved insiders.

The incident adds to a growing list of cyberattacks targeting the industry. A recent report by Immunefi highlighted that crypto projects lost $92.5 million in April 2025 alone across 15 separate attacks. This figure is a 27.3% increase from the $72.6 million lost in April 2024, and more than double the $41.4 million recorded in March 2025.

TL;DR

• PI surged to a two-month high after a teaser from the team behind the project, but dropped sharply to around $0.80 following the reveal of the actual news.
• Binance sparked speculation about a possible PI listing with a cryptic π-themed post, triggering excitement across the community.
• Shibarium’s marketing strategist, LUCIE, shared a personal story of being scammed, urging the Shiba Inu community to stay vigilant as fraudsters continue exploiting unsuspecting crypto users.

What’s New Around Pi Network?

The controversial crypto project made the headlines on May 8, teasing a mysterious announcement that would be released in the upcoming days. The community took this as a positive sign, with some expecting major news, such as PI’s listing on the world’s largest cryptocurrency exchange, Binance.

The excitement also seems to have triggered a price rally for Pi Network’s native token, which surged by almost 200% at one point and jumped above $1.70 (the highest point observed in the past two months).

On May 14, the team behind the project lifted the curtain, unveiling the launch of a $100 million initiative (held in PI and USD) to invest in startups and businesses that “advance the utility and real-adoption of PI.”

The price of the underlying token dipped substantially following the announcement, reaching a local bottom of nearly $0.80. This appears to be a classic “buy the rumor, sell the news” case where the asset’s valuation climbs in anticipation of a certain disclosure, only to decline once the news becomes public.

Meanwhile, Binance posted a cryptic message on its official X account that many community members view as a potential PI listing coming soon. The company presented its logo with mathematical symbols, one of which was the constant π. Many users pointed out the connection with the crypto project, whose native token has the same name.

It is important to note that Binance issued a community voting in February to determine whether its users want to see PI available on the platform. The vast majority clicked the “yes” option, but the company has yet to respect their wish.

Binance Flashes the Red Flag

Approximately a week ago, the exchange warned its users about phishing scammers who present themselves as Binance staff on Telegram and other social platforms. Per the alert, fraudsters direct victims to designated links, which can later steal their credentials or 2FA codes.

Binance advised people to be utterly cautious about suspicious messages and to double-check information before clicking on unfamiliar links. The company’s CEO shared the warning, saying:

“We’re here 24/7, but your vigilance is the first line of defense.”

Shiba Inu Also Sounded the Alarm

Scams are a persistent and unpleasant part of the crypto space, and Binance isn’t the only entity to warn about such dangers. Most recently, LUCIE – Shibarium’s marketing strategist – revealed their personal encounter with bad actors years ago.

The X user said the attack caused a huge trauma since wrongdoers managed to drain the victim’s wallet. LUCIE also stated that the person who carried out the scam was “so kind, so sympathetic” and an English native speaker, meaning that people can easily be tricked. 

In conclusion, Shibarium’s lead advised people to be careful and stay safe.