The altcoin season seems ready to kick off, as Ethereum's price performance has outperformed Bitcoin during this period. Previous bull market cycles have proven that whenever ETH's performance begins to surpass BTC, the golden cycle for altcoins is about to arrive. This was the case in 2021, and a similar situation occurred in May 2025. Now, as the gap between Ethereum and Bitcoin continues to widen, altcoins appear poised for the next surge.
Ethereum leads Bitcoin by 24%
As of now, Bitcoin's price has repeatedly set historical highs in July, even briefly breaking the $23,000 mark before retreating. This has led to BTC achieving double-digit gains this month, having risen over 12.3% so far this month using CryptoRank data.
Unlike the previous months when Ethereum's price lagged behind Bitcoin, ETH is currently in the lead in terms of percentage increase. The second-largest cryptocurrency, Bitcoin, has risen over 45% this month alone, breaking the $3,100 mark. This has led to its increase exceeding Bitcoin's by 33%, signaling a shift in trend.
The last time Ethereum's price exceeded Bitcoin was in May 2025, when ETH rose by 41.1% that month. In comparison, BTC rose by 11.1% during the same month. Major altcoin prices surged rapidly during that month, with many altcoins rising by 50-100% during this period.
Considering this historical performance, the altcoin market has already enjoyed the benefits brought by Ethereum's outstanding performance. However, ETH has yet to reach a new all-time high, even though BTC's price is nearly twice what ETH's peak was at $4,800 last time.
ETH is still driving the altcoin season
Ethereum's outstanding performance, along with the synchronized rise of large altcoins, indicates the arrival of the altcoin season. In the past 90 days (used to calculate the altcoin season index), the price of ETH has risen by over 125%, while Bitcoin's price increase during the same period was around 41.5%.
The altcoin season index on CoinMarketCap has also moved beyond the 43-point mark, indicating that among the top 100 altcoins by market capitalization, 43 currently outperform Bitcoin. While this number means that the altcoin peak season has not yet begun, it is a step in the right direction.
Typically, the altcoin season is considered to be in full swing when the index reaches 75%. This means that within 90 days, 75 of the top 100 altcoins outperform Bitcoin. Once the index breaks the 90% mark, indicating that 90 altcoins outperform Bitcoin, it is seen as the peak of the altcoin season.
