based on materials from the site - By CoinPedia News
Bitcoin is leading the crypto rally again, reaching a new all-time high of $123,000 at the beginning of this month. Since the beginning of July, BTC has increased by 9.79%, and over the last seven days by 8.8%, which has reignited investor interest in the market.
But with Bitcoin's dominance rising, the main question now is: will altcoins follow its lead or is this another trap?
🚨Bitcoin has broken the $120,000 mark, is it time for the altcoin season to begin?🚨$BTC just reached a new peak at $123,000. But where is the altcoin pump?
I analyzed the last three $BTC breakouts to find patterns, and the signs are finally aligning.
Here’s what to expect from $ETH, $SOL,$XRP and…
— VirtualBacon (@VirtualBacon0x) July 14, 2025.
Bitcoin surged to $123k.
Bitcoin's bullish momentum remains, having increased by 15.9% from June 23 to July 15. This rally lifted BTC's price from $107k to $123k, which is 14.95% higher than the largest breakout in the third quarter.
In the second quarter of 2025, Bitcoin recorded an impressive return of 29.9%, driven by:
April: +14.2%
May: +11.1%
June: +2.40%
In the third quarter, Bitcoin has already increased by 9.69% — and this is not the end.
Is it an altcoin season or just a short period?
Popular analyst VirtualBacon published a detailed thread on X, analyzing the current BTC breakout and its significance for altcoins.
According to him, this may not be a full-blown altcoin season but rather a short 'altcoin rotation window'. Historically, after each major BTC breakout since mid-2023, altcoins have typically risen for 3-5 weeks before Bitcoin regained its lead.
Currently, Bitcoin's dominance is at 64.34%, compared to 57.59% at the beginning of the year. This ongoing increase suggests that money is still primarily flowing into Bitcoin. The only pullback was a decline of 4.83% in May, which quickly recovered.
VirtualBacon emphasizes that a prolonged altcoin season requires a decrease in BTC dominance, which has not yet occurred. However, short-term opportunities may still exist. Altcoins to watch right now
VirtualBacon highlights several altcoins with breakout potential:
BNB: Close to cyclical lows
LINK: Undervalued with strong fundamentals
ADA: Forming a macroeconomic double bottom
TRX: Quiet strength
DOGE: Known for surging after BTC breakouts
He also notes that tokens from the Solana ecosystem are showing strength:
Bonk: +110.9% (14 days)
PENGU: +112.9% (14 days)
Emerging layer one and smart contract platforms are also on the radar:
SUI, Aptos (APT), and Avalanche (AVAX), with AVAX not showing growth since October 2023.
Meanwhile, narrative-driven tokens like TAO (14x over 5 months) and PEPE (6.6x over 3 months) have demonstrated growth potential during strong upward trends of Bitcoin. What will happen if Bitcoin's price reaches $150,000?
VirtualBacon predicts that if Bitcoin's price reaches $150,000, the value of the 20 largest altcoins could soar as institutional and retail investors seek new opportunities.
While Bitcoin leads, altcoins may have a short-term window for growth. Whether this becomes a full-blown altcoin season will depend on Bitcoin's dominance, overall market sentiment, and how investors rotate capital in the coming weeks.
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