A recent wave of capital is flooding into altcoins as Bitcoin trades close to $120,000. In accordance with a brand new CryptoQuant report, a number of key indicators are pointing to a potential “altseason,” a interval when various cryptocurrencies outperform Bitcoin.
Bitcoin dominance, which measures BTC’s market share, has dropped sharply. The metric fell by over 6.3% in current weeks and is now sitting at round 60.5%, the bottom stage since March.
2025 Altseason?
Altcoins are heating up after Bitcoin’s breakout to ~$120K.
For instance, Ethereum is up +170% from the current lows and simply ~23% from its ATH at $4,871.
Listed here are 6 key charts displaying this market shiftpic.twitter.com/8fUZELmhMy
— CryptoQuant.com (@cryptoquant_com) July 31, 2025
This decline usually signifies a shift in market focus from Bitcoin to altcoins. Analysts say the sample is taking part in out much like 2021, when Ethereum and different tokens started to surge after Bitcoin led the preliminary rally.
Ethereum Rallies 56% in a Month Amid Rising Institutional Confidence
Ethereum (ETH) has posted a 56% achieve previously month alone and is now buying and selling round $3,854. It’s only 23% away from reclaiming its all-time excessive of $4,871. A lot of the renewed curiosity in ETH has been fueled by institutional demand for Ethereum.
SharpLink Gaming confirmed final week it now holds 438,190 ETH, price roughly $1.6 billion, with over 95% being staked or incomes yield via liquid staking platforms. The corporate added over 77,000 ETH in a single week, spending $290 million at a mean value of $3,756. Its ETH focus has jumped 70% since early June.
In the meantime, BitMine Immersion Applied sciences now leads all company holders with over 625,000 ETH as a part of its rising $2.3 billion ETH treasury.
Collectively, 65 establishments now maintain 2.33 million ETH, price $8.9 billion, accounting for 1.93% of Ethereum’s complete provide, in response to knowledge from Strategic ETH Reserve (SER).
Holdings have surged since April, with a noticeable spike in late June, reflecting rising institutional confidence in ETH as a treasury asset. This renewed curiosity coincides with Ethereum gaining power towards Bitcoin, because the ETH/BTC pair exhibits indicators of upward momentum, an early sign usually related to the onset of altcoin-led rallies.
Supporting this pattern, CryptoQuant experiences that ETH and altcoin futures quantity lately reached $223.6 billion, marking the very best stage in 5 months and reinforcing the narrative of renewed bullish curiosity within the broader altcoin market.
“Altcoins are seeing heavy buying and selling,” the agency said. It additionally famous that Ethereum perpetual futures quantity dominance has overtaken Bitcoin for the primary time since 2022. ETH futures open curiosity climbed to $58 billion, with quantity doubling since late June.
CryptoQuant noticed that altcoins and ETH now make up 83% of complete futures quantity, whereas BTC accounts for simply 17%.
On the similar time, retail curiosity is choosing up once more. Transactions underneath $10,000 are up 9.7% over the previous 30 days. Traditionally, this metric has surged forward of main rallies in each Bitcoin and altcoins.
CryptoQuant defined, “This improve aligns with psychological thresholds being crossed in BTC value, drawing in smaller buyers and speculators.”
The general crypto market has added almost $900 billion in worth over the previous three weeks, pushing the full market cap to $3.9 trillion.
Altcoin Season Index Almost Doubles as Market Rotation Intensifies
Alongside Ethereum’s rally, different main altcoins are additionally on the rise. BNB is up 23% over 30 days, Solana has gained greater than 21%, and XRP is up 44%. Meme cash are having their second too, with BONK leaping 148% and FLOKI climbing 119%. Even lower-cap tokens are outperforming, with PENGU and SPX each posting positive factors of over 250%.
Out of 424 futures buying and selling pairs on Binance, solely 23 posted losses since Bitcoin broke its all-time excessive, displaying that over 94% of the altcoin market has reacted positively.
Veteran dealer Merlijn stated Bitcoin dominance has entered “Section 4″—a breakdown stage.
“That is the largest signal of an Altseason and upcoming parabolic pump,” stated Ash Crypto, one other analyst.
A key technical indicator can be flashing. Bitcoin dominance has shaped a bearish cross on the three-week chart and damaged a three-year uptrend line.
This breakdown means that Bitcoin’s share of the crypto market is shedding power, which traditionally results in capital rotation into altcoins.
The rise in ETH futures open curiosity to $58 billion, up from simply $20 billion in April, is additional proof of this momentum. Actually, that is greater than what it was when ETH traded close to $4,000 final December. Analysts see this as a powerful signal of recent capital getting into the Ethereum market.
In the meantime, Ether’s open curiosity dominance has risen to 40%, a stage not often seen. Glassnode knowledge additionally confirms that Ethereum futures quantity has overtaken Bitcoin’s—one other main first since 2022.
#Ethereum open curiosity dominance has climbed to just about 40%, its highest stage since April 2023. Solely 5% of days have seen the next studying. This marks a transparent shift in speculative focus, with capital rotating from $BTC to $ETH on the margin. pic.twitter.com/yNKLe9gJKt
— glassnode (@glassnode) July 29, 2025
Whereas a full-fledged altseason has not been confirmed, many indicators counsel the market is getting into a brand new section. As merchants eye these structural shifts, the subsequent few weeks might set the tone for a broad altcoin rally within the second half of 2025.
The submit Altseason 2025: Prime Altcoins Surge as Bitcoin Hits $120K – 6 Should-See Charts appeared first on Cryptonews.