Altcoin Season Returns? Bitcoin Consolidates With ETH, SUI, SEI Among Those Taking Charge
2025-07-16 16:15:30
Main Idea
Bitcoin recently reached record highs, leading to increased capital flow into altcoins like ETH, SUI, and SEI, with early signs suggesting the potential start of an altcoin season.
Key Points
1. Bitcoin formed fresh record highs last week, peaking just below $124,000 before profit-taking emerged.
2. Altcoins such as ETH, SUI, and SEI posted significant gains (50%-80%, 41%, and 36% respectively), indicating capital rotation from Bitcoin to more speculative assets.
3. CryptoQuant's MRVR indicator shows early signs of an altcoin season, the first since June 2024.
4. CoinDesk's CD20 index (broader altcoin index) has outperformed the CD5 index (BTC, ETH, XRP, SOL, ADA), further suggesting altcoin momentum.
5. The altcoin market remains heavily dependent on Bitcoin's performance; continued consolidation above $112,000 could support further altcoin gains, while a drop below may lead to underperformance.
Description
Bitcoin triumphantly formed a series of fresh record highs last week, eventually topping out just shy of $124,000 as profit taking emerged. The rise has paved the way for what many are describing as the latest "altcoin season," which involves crypto tokens other than bitcoin making often exponential moves to the upside. The recent bitcoin bull market has just been that: a bitcoin bull market with altcoins taking the back seat as institutions rallied around spot bitcoin ETFs and BTC-based treasur...
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