Samson Mow Foresees Mass Exodus: ETH Holders Dumping Altcoins for Bitcoin Dominance

Bitcoin maximalist Samson Mow just dropped a bombshell—Ethereum loyalists are primed to defect back to BTC. Here’s why the ‘flippening’ might be a pipe dream.

The Great Crypto Reckoning

Mow’s prediction isn’t just hype. With Ethereum’s gas fees still choking users and layer-2 solutions feeling like duct-tape fixes, patience is wearing thin. Meanwhile, Bitcoin’s institutional adoption keeps snowballing—Wall Street’s latest ‘safe haven’ play, ironically.

Altcoin Winter 2.0?

ETH’s underperformance against BTC this cycle says it all. Traders chasing shiny DeFi toys are now nursing losses while Bitcoin hodlers smirk. Even Vitalik’s ‘ultrasound money’ narrative can’t compete with the OG’s scarcity mojo.

Finance jab of the day: ‘Smart contracts’ won’t save you when Tether prints another billion to prop up this house of cards.

Mow’s View: ETH Is Just a Step Toward More Bitcoin

Mow, CEO of Bitcoin adoption company JAN3, shared his thoughts on social media this week. He claimed that most big ETH holders also own a lot of Bitcoin. According to him, these investors are temporarily moving their BTC into ETH to push up its price, using new narratives such as Ethereum Treasury companies to generate excitement.

His prediction is that once ETH reaches a high enough price, these same investors will sell, locking in profits, and then MOVE the money back into Bitcoin.

“They’ll dump their ETH, creating new generational bagholders, and then rotate the gains back into BTC,” Mow said. He added bluntly: “No one wants ETH in the long run.”

The “Bagholder’s Dilemma”

Mow also explained why he believes ETH will struggle to hit new record highs. He called it the “Bagholder’s Dilemma”—the closer a price gets to its all-time high, the more existing holders feel pressure to sell and secure profits, making it harder to push past that record.

Despite ETH’s recent strong performance, Mow doesn’t think Bitcoiners should worry about the ETH/BTC ratio—a measure of how much ETH is worth compared to BTC. Right now, it’s about 0.036, which is double its April low of 0.018. But for Mow, Ethereum has always been a tool for people to eventually get more Bitcoin. “It was true for the ICO, and it’s true now,” he said.

Others See an Altcoin Rally Ahead

Not everyone agrees with Mow’s bearish outlook for ETH.

Investor Ted Pillows predicts a different scenario:

• Ethereum will set a new all-time high, sparking a mini altcoin season.

• Capital will then rotate back into Bitcoin until it hits around $140,000.

• After that, the final stage will be another rotation into Ethereum and altcoins.

This cycle, he says, is typical for bull markets. Historically, Bitcoin rallies first, then Ethereum and other altcoins follow with their own peak later.

Ethereum Advocates Push Back

Ethereum supporter Anthony Sassano dismissed Mow’s comments, calling them “old school bitcoin maxi” criticism. For Sassano, that kind of talk is actually a bullish sign for ETH—suggesting that Ethereum is doing well enough to get the attention of die-hard Bitcoin supporters.

Why ETH Is Pumping Now

Ethereum has seen a big jump in price over the past five weeks. According to Nick Ruck, director at LVRG Research, institutional investors are showing interest in “strategy reserve plays” involving ETH. This has also benefited decentralized finance (DeFi) platforms, boosting total value locked (TVL).

Ruck points out that yield farming and lending strategies are attracting users back to Ethereum-based platforms. This extra activity is likely helping ETH prices rise.

Bitcoin Dominance Slips

One way to track the balance of power between BTC and altcoins is through Bitcoin dominance—the percentage of the total crypto market cap made up by Bitcoin. Since late June, Bitcoin dominance has fallen by about 10%, showing that investors are moving money into altcoins, including ETH.

ETH Price at 3-Year Highs

Ethereum just had its highest weekly close since November 2021. Over the past week, ETH gained 21%, ending at about $4,300 on Sunday. That’s only about 12% away from its all-time high of $4,878 reached in 2021.

For now, momentum is still with Ethereum, despite skepticism from some Bitcoin maximalists. Whether Mow’s prediction comes true or Ethereum sets a new record remains to be seen.

What’s Next?

The crypto market often moves in cycles:

If history repeats, ETH could still have room to run before any large-scale rotation back into Bitcoin. But if Mow is right, ETH holders may need to watch for sudden profit-taking from big investors.

Conclusion Samson Mow’s prediction adds to the ongoing debate between Bitcoin supporters and Ethereum believers. For Bitcoin maximalists, ETH is just a temporary trade. For Ethereum advocates, the recent surge could be the start of something bigger. Either way, the next few months could be critical in deciding which asset comes out on top in this market cycle.