Bitcoin News Today: Altcoin Season Begins as Ethereum Surges 24% and Bitcoin Dominance Drops to 62.61%

Veteran trader Peter Brandt announced on July 16, 2025, via Twitter that the altcoin season has begun, marking a significant shift in the crypto market. This declaration signals a key change in market dynamics, with altcoins expected to outperform as capital inflows into these assets increase.

Brandt, known for his accurate market predictions, has identified the start of a new altcoin season, suggesting imminent market opportunities. Other key figures, such as Michael van de Poppe, have also expressed optimism, predicting strong performances for altcoins in the upcoming months. Altcoins have shown robust growth, posting their strongest gains relative to Bitcoin since late 2024, with Ethereum up 24% in a week. This shift is marked by a 97% projected growth in total altcoin market capitalization, diminishing Bitcoin's dominance to 62.61%.

The performance of altcoins is influenced by increased investor interest in Ethereum and Layer-2 solutions. Bitcoin, while still a dominant asset, is seeing rotational outflows as capital shifts strategically towards altcoins, tapping into their increased risk and reward potentials. Historically, altcoin seasons start after Bitcoin dominance peaks. The anticipated financial impact includes potential growth for assets like Ethereum and significant implications for altcoin-heavy portfolios. Brandt's announcement coincides with technical indicators like the MACD and Fibonacci levels, predicting a gradual market recovery.

Market observers note the potential for altcoins to reshape digital asset investments. While strategic risks remain, historical patterns suggest substantial returns in such cycles. Investors are advised to assess their portfolios, considering altcoin allocations amid evolving market conditions. The declaration of altcoin season by Brandt has sparked significant interest among investors who are now eagerly seeking the next big cryptocurrency to explode. This shift is evident in the performance of various altcoins, including Dogecoin, which is showing signs of a major bullish breakout. The potential breakout of Dogecoin is not an isolated event; it reflects a broader trend in the altcoin market, where meme coins typically accelerate first on recovering markets. This breakout suggests more than just upside; it may indicate a broader bullish trend for altcoins.

In addition to Dogecoin, other altcoins are also showing promising signs. Brandt has forecasted a potential 60% rally toward $4.47 for XRP in the coming months. This prediction, along with Brandt's declaration of altcoin season, has further fueled investor enthusiasm. The market is now closely watching the performance of various altcoins, anticipating explosive breakouts. The declaration of altcoin season by Brandt has not only caught the attention of investors but also sparked discussions among analysts and traders. The market is abuzz with predictions and analyses, with many experts agreeing that the altcoin space is ripe for significant gains. The coming weeks will be crucial as the market awaits the validation of these breakouts and the potential shift in sentiment.