Bitcoin News Today: Altcoins Gain Momentum as Bitcoin Dominance Slips Below 60%

Analyst Benjamin Cowen has predicted a potential shift in momentum within the cryptocurrency market, suggesting that certain altcoins could outperform Bitcoin in August 2025. This view is supported by broader market conditions showing Bitcoin’s dominance slipping below 60%, a level not seen in six months [1]. The declining influence of Bitcoin has fueled speculation that altcoins may gain traction, with some analysts highlighting August as a key month for altcoin activity [2]. Cowen specifically points to Ethereum’s movement above $4,700 as a key indicator of market dynamics, although he cautions that altcoins may not necessarily outperform Ethereum itself [1].

Cowen’s analysis indicates that the altcoin sector could see a short-term surge against Bitcoin, driven by a rotation of capital and market structure. However, he also warns of the potential for a correction in Bitcoin in September, which could have a cascading effect on altcoin prices [1]. This scenario is supported by historical patterns, as September has traditionally been a volatile period for the market [1]. If Bitcoin experiences a pullback, altcoins may follow suit, potentially retreating to the lower ends of their previous trading ranges until late October or early November [1].

Ethereum’s price action reveals mixed signals. While it has broken out above key levels with high volume, momentum indicators such as the Relative Strength Index (RSI) suggest that it may be entering an overbought condition, raising concerns about potential exhaustion [1]. In contrast, Bitcoin remains in a more balanced state, with its RSI showing only moderate overbought levels [1].

The broader market context shows that altcoins are increasingly capturing investor attention, particularly as Bitcoin consolidates. Open interest in the altcoin market has hit a record high, reinforcing the idea that traders are positioning for a potential bull run [6]. Some traders have already set alerts for promising altcoin opportunities, indicating a growing appetite for alternative exposures [3]. While Bitcoin continues to dominate the headlines—recently reaching an all-time high of $124,000—analysts are watching closely to determine whether the trend will favor Bitcoin or altcoins in the near term [4].

Not all experts agree on the immediate trajectory of Bitcoin. Some, like Ali Martinez, suggest that Bitcoin could rise further to $130,000 if it remains above $110,000 in support [7]. Others, including BraveNewCoin, project a range of $125,000 to $131,000 for Bitcoin as the market moves into the final phase of the 2025 bullish cycle [5]. These divergent forecasts highlight the uncertainty surrounding Bitcoin’s short-term direction and the potential for increased volatility as the market adjusts.

Despite the uncertainty, the shift in market dynamics toward altcoins suggests that investors are beginning to diversify their exposure beyond Bitcoin. This could mark the beginning of a traditional “altcoin season,” with August positioned as a critical period for altcoin performance [2]. Market participants are advised to monitor Bitcoin’s price action and the evolving dominance of altcoins as the crypto ecosystem continues to shift [11].

Sources:

[1] Why Altcoin Season is Already at Its Peak in August (https://beincrypto.com/altcoin-season-peak-august/)

[2] Bitcoin at $124K, reaches all-time high. Here's what ... (https://m.economictimes.com/markets/cryptocurrency/bitcoin-at-124k-reaches-all-time-high-heres-what-experts-say/articleshow/123296817.cms)

[3] Bitcoin Crosses $120K as Altcoin Market Prepares for Next ... (https://www.mitrade.com/insights/news/live-news/article-3-1037154-20250814)

[5] Bitcoin Could Rally Toward $125K–$131K as Cycle Model ... (https://bravenewcoin.com/insights/bitcoin-btc-price-prediction-bitcoin-could-rally-toward-125k-131k-as-cycle-model-signals-late-2025-bullish-surge)

[6] Cryptocurrencies Price Prediction: Bitcoin Cash, OKB & ... (https://www.fxstreet.com/cryptocurrencies/news/cryptocurrencies-price-prediction-bitcoin-cash-okb-bitcoin-asian-wrap-14-august-202508140517)

[7] Best Altcoins to Buy Now After Bitcoin's All-Time High (https://icobench.com/news/best-altcoins-to-buy-now-after-bitcoins-all-time-high/)

[11] Bitcoin Dominance Falls Below Critical Level For The First ... (https://bitcoinist.com/bitcoin-dominance-critical/)