Bitcoin Surges 14.95% to $123K, Altcoins Await Rotation Window

Bitcoin has once again taken the lead in the crypto rally, reaching a new all-time high of $123,000 earlier this month. In July alone, BTC has seen a 9.79% gain, with an 8.8% jump in the last seven days, reigniting investor excitement across the market. This surge has pushed Bitcoin from $107K to $123K, marking a 14.95% increase and the biggest breakout of Q3 so far. In Q2 2025, Bitcoin recorded an impressive 29.9% return, supported by gains of 14.2% in April, 11.1% in May, and 2.40% in June. So far in Q3, Bitcoin is already up 9.69%—and counting.

However, with Bitcoin dominance rising, the question remains: Will altcoins follow—or is this another fakeout? Popular analyst VirtualBacon shared a detailed analysis on X, suggesting that this may not be a full-blown altseason, but rather a short “altcoin rotation window.” Historically, after each major BTC breakout since mid-2023, altcoins typically rallied for 3–5 weeks before Bitcoin resumed dominance. At present, Bitcoin dominance sits at 64.34%, up from 57.59% at the start of the year. This continued rise suggests money is still flowing into Bitcoin first. The only pullback was a 4.83% drop in May, which quickly recovered. VirtualBacon emphasizes that a sustained altcoin season needs BTC dominance to decline, something that hasn’t happened yet. But short-term opportunities may still exist.

VirtualBacon highlights several altcoins with breakout potential, including BNB, LINK, ADA, TRX, and DOGE. He also notes Solana ecosystem tokens are showing strength, such as Bonk and PENGU. Emerging Layer-1s and smart contract platforms like SUI, Aptos (APT), and Avalanche (AVAX) are also on the radar. Meanwhile, narrative-driven tokens like TAO and PEPE have shown what’s possible during strong Bitcoin uptrends. If BTC touches $150K, the top 20 altcoins could explode in value, as institutional and retail investors look for the next big opportunity. While Bitcoin leads the charge, altcoins may have a short-term window to rally. Whether this turns into a full-scale altseason will depend on Bitcoin dominance, overall market sentiment, and how investors rotate capital in the coming weeks.