Bitcoin Profit-Taking by New Whales May Signal Declining Dominance and Potential Altcoin Season

Key Points

1. New Bitcoin whales sold assets above $120,000, marking the third major profit-taking wave in the 2025 bull market.

2. Bitcoin's market dominance dropped from 64% to 60% between July 17 and 21, 2025, as investors shifted to altcoins like Ethereum and mid-cap tokens.

3. Bitcoin's price was $118,294.24 with a 21.46% increase over the past 90 days, driven by high trading volumes and whale activity.

4. The realized profits of $6-8 billion in July 2025 were comparable to peaks seen in 2024, influencing market dynamics.

5. The decline in Bitcoin dominance often signals the start of an altcoin season, reflecting investor interest in alternative cryptocurrencies.