Ethereum Soars, Altcoins Rally: Is the Alt Season Finally Unleashed?

Ethereum's explosive surge ignites a domino effect across smaller caps—market euphoria or just another crypto sugar rush?

The Big Pump: ETH Leads the Charge

Ethereum isn’t just climbing—it’s mooning, dragging a gaggle of altcoins along for the ride. Traders are scrambling, FOMO is spiking, and even the most cynical bag-holders are whispering: 'Is this it?'

Altcoin Carnage or Comeback?

Smaller caps are either riding ETH’s coattails or getting left in the dust. No middle ground. Projects with actual utility? Pumping. Ghost-chain vaporware? Still flatlining—surprise.

The Million-Satoshi Question

Is this a sustainable rotation or just liquidity sloshing into riskier bets while Wall Street’s algo-traders take a coffee break? Either way, the ‘alt season’ narrative is back—until the next rug pull, of course.

Cynic’s Corner

Let’s be real: half these ‘fundamentals’ are just Twitter threads and paid influencer shills. But hey, profits are profits—even if they’re printed on hopium.

A painful bull market for altcoin traders

2025 has been a stellar year for Bitcoin, seeing the number-one crypto climb steadily higher, marking a fresh all-time high of ~$122,838 on July 14, fueled by rising institutional demand and a favorable regulatory climate stateside.

The same cannot be said of altcoins, which have languished far from their peak levels. Ethereum’s lackluster performance, in particular, caused divisions within its community, leading many to question whether the divergence between technology and price was an existential issue.

Just as ETH price was beginning to break out and see sustained momentum, renowned trader and former BitMEX CEO Arthur Hayes rattled ETH holders, selling 2,373 coins from his stash and forecasting near-term headwinds for the number-one alt, which, he believed, would test the $3,000 mark based on a weaker-than-expected jobs report and a short-term slowdown in global liquidity.

Those who continued to HODL their ETH are feeling euphoric today as ETH price has surged more than 50% in a month, with some prediction platforms forecasting price targets over $60,000. Even Hayes has taken to crypto Twitter this morning to admit the folly of his decision, tagging Tommy Lee’s Fundstrat, now the largest holder of ETH, with the words:

“Had to buy it all back, do you forgive me? I pinky swear, I’ll never take profit again.”

Is alt season finally here?

With Hayes back on board, BTC and crypto allowed in 401ks, and ethereum bulls from Buterin to Bankless, finally believing in the strength of this latest rally, does this mean that the long-awaited alt season is finally here?

It certainly looks that way as smaller-cap coins begin to pump across the board. Before you get over your skis, however, take note: this year’s alt season may differ from previous cycles. As prominent day trader and LINK ambassador Ito Shimotsuma, points out:

“Each #Altseason is smaller than the previous ones. And this is why I tell you to focus more on DYOR. In 2017, any random ICO pumped 100x. In 2021, any VC backed alt pumped 50x-100x. This time, very selective alts will outperform. Look for those alts with strong narrative and revenue sharing.”

Another well-known altcoin trader, Miles Deutscher, similarly exercises more caution, confirming that, in his opinion, a mini alt season is finally happening, but watch out for the rotation back into BTC between the $120-140K mark.

Into the Cryptoverse founder Benjamin Cowen is notably less bullish on alts, warning:

“This is not alt season.

This is ETH season

Let’s not confuse the two”

Is Bitcoin’s rally finally over?

With Ethereum and alts pumping, Bitcoin is currently being outperformed, and Bitcoin dominance has dropped to 59.2% at the time of writing after months of holding steady over 60%.

According to Bitcoin macro strategy analyst ecoinometrics, Bitcoin’s correlation with the Nasdaq is behind this recent stall.

“Bitcoin’s correlation with the Nasdaq helps explain recent price action.

When stocks dropped sharply late last week, bitcoin followed. That’s what you expect when correlations are elevated.

Now that the Nasdaq is resuming its uptrend, Bitcoin is moving with it again.”

All eyes will be on the broader macro picture moving into next week to see what Bitcoin’s next MOVE will be, and how long this alt season may last.