Altcoin traders can hardly contain themselves as it appears that the much-anticipated breakout has begun. ETH has recorded profits of over 20% over the past seven days, with small cap coins like Sol, Doge and BNB nearby, and ChainLink’s linked tokens rose 30% over the same time frame. Does this finally mean Alt season here?
Altcoin Traders’ Painful Bull Market
2025 was a great year for Bitcoin, with the number one crypto rise steadily rising, marking the highest ever-growing record high on July 14th, fostering the rise in institutional demand and the provincial side of the favourable regulatory environment climate state.
The same cannot be said about Altcoins, which are far from the peak levels. In particular, Ethereum’s inactive performance caused a division within the community, causing many to question whether technology and price differences were an existential issue.
As ETH prices begin to infiltrate and see the sustained momentum, renowned trader and former Bitmex CEO Arthur Hayes rattled the ETH holder, selling 2,373 coins from his stash, predicting a close headwind for the number one ALT.
As ETH prices have skyrocketed by more than 50% in a month, those who have been hugging ETH today are feeling euphoric today. Even Hayes went to Crypto Twitter this morning to acknowledge the stupidity of his decision and tagged Fundstrat by Tommy Lee, now the biggest owner of ETH.
“I had to buy all of it, will you forgive me? I swear Pinky, I will never make any profit again.”
Are you finally here for the Alt season?
Hayes boarded, BTC and Crypto are allowed in 401ks, and Ethereum Bulls from Buterin to Bankless finally believe in the strength of this latest rally, does this mean that the much-anticipated Alt season is finally here?
It certainly looks like that as the smaller cap coins start pumping all over. However, be careful before you get over the skiing. This year’s ALT season may differ from previous cycles. As a prominent day trader and ambassador of Link Island, he points out:
“Each #Altseason is smaller than the previous one. This is why I tell you to focus more on diamonds. In 2017, a random ICO was pumped 100 times.
Another well-known altcoin trader, Miles Deutscher, is equally more careful, and in his opinion, confirms that the mini-alt season is finally happening, but be careful of the spinning back to BTC between the 120-140K mark.
Cryptoverse founder Benjamin Cowen is not particularly bullish, especially at Alts.
“This is not an alt season.
This is ETH season
Don’t confuse them.”
Has the Bitcoin rally finally finished?
With Ethereum and Alts pumping, Bitcoin is currently outperformed, with Bitcoin’s domination falling to 59.2% after a stable writing of over 60% at the time of writing.
According to Bitcoin Macro Strategy Analyst EcoInometrics, the correlation between Bitcoin and NASDAQ lies behind this recent food stall.
“The correlation between Bitcoin and the Nasdaq helps explain recent price actions.
Bitcoin continued when stocks fell sharply late last week. That’s what you expect when the correlation rises.
Bitcoin is running again as the Nasdaq resumes uptrends. ”
All eyes are in the wider macro image moving to next week, seeing what Bitcoin’s next move is and how long this ALT season will last.
Ethereum Market Data
When reporting 12:41pm, UTC on August 9, 2025Ethereum ranks second in terms of market capitalization, and the price is above 7.48% Over the past 24 hours. Ethereum has a market capitalization $5075.9 billion 24-hour trading volume $511.8 billion. More about Ethereum›
Overview of the Crypto Market
When reporting 12:41pm, UTC on August 9, 2025Crypto market totals are evaluated by $3.94 trillion There is a 24-hour volume $1705.1 billion. Bitcoin’s advantage is currently underway 59.18%. Crypto Market Details›