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A decisive shift is underway in the cryptocurrency market, as major altcoins reportedly post substantial gains while Bitcoin enters a period of price consolidation. In the past week, several leading alternative cryptocurrencies notched double-digit increases, outpacing Bitcoin, which has remained near its recent high after a historic run.
According to CoinMarketCap, Bitcoin’s price reached a record $123,054, marking a remarkable 65% surge from its April low. However, rather than continuing its upward trajectory, the world’s largest cryptocurrency settled into a sideways range between $116,000 and $120,000. As Bitcoin’s momentum stalled, its share of the total crypto market capitalization—the so-called Bitcoin dominance—slipped by 6.9% over seven consecutive days. This marks the steepest drop in dominance since December 2023 and historically signals the beginning of altcoin-led market phases.
Amid this backdrop, Ethereum rallied by 19.45%, and XRP surged 21.4%. Other significant altcoins, including Solana (SOL), also greatly outperformed, drawing increased liquidity from Bitcoin as traders sought greater returns. The broader altcoin market, excluding stablecoins and the top ten cryptocurrencies, soared by 35%, injecting approximately $85 billion into the sector within a single week. This widespread rally indicates broader investor participation beyond early Bitcoin accumulation—a trend typically observed during mid-cycle expansions when risk appetite grows.
Despite relinquishing relative market share, Bitcoin remains fundamentally solid, trading above the cost basis of 95% of circulating coins. However, long-term holders have begun distributing coins to shorter-term investors, retail buyers, and ETFs.
Market experts view the latest price action not as a reversal, but as a “passing of the baton.” Bitcoin’s continued consolidation above its realized cost provides a stable floor, but altcoins now capture the lion’s share of fresh capital flows. The endurance of this trend will depend on ongoing Bitcoin demand and the liquidity available in large-cap tokens.
On July 17, 2025, the cryptocurrency market achieved a major milestone, with its global market capitalization exceeding $4 trillion. This event underscores crypto’s growing maturity and acceptance as a mainstream asset class, propelled by institutional adoption and robust altcoin performance.
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