Bitcoin dominance (BTC.D) plummeted to 59.3%, its lowest level since February 2025, signaling a significant capital rotation toward altcoins. This 10% decline since late June coincides with Ethereum approaching its all-time high at $4,670—just 4.2% away—while the Blockchain Center Altcoin Season Index jumped to 53. Ray Youssef, CEO of NoOnes, contends the altcoin season isn't beginning but is already at its midpoint, having started in April when Ethereum rebounded from $1,500. He notes over 30 altcoins have outperformed Bitcoin in the past 90 days.
Market analysts are divided: Cas Abbé describes the current phase as 'Ethereum Season,' predicting broader altcoin rallies only after ETH hits new highs, potentially in October/November 2025. Conversely, commentators like 'Bull Theory' anticipate a 'mega altseason' with 10x-50x gains if BTC dominance drops toward 45%. Altcoins are already surging—Solana (SOL) rose 12% toward $200, Cardano (ADA) gained 9%, Chainlink (LINK) jumped 13%, and Litecoin (LTC) hit a six-month high at $133.
Youssef projects established altcoins like SOL and XRP could challenge Ethereum's dominance, while meme coins (DOGE, PEPE, SHIB, FLOKI) may resurge as institutional inflows reduce BTC/ETH volatility. However, he warns speculative tokens without utility may 'vanish' when 'crypto winter' arrives by October.