Altcoin season looks ready to kickstart as the Ethereum price has been outperforming the price of Bitcoin during this time. Previous bull cycles have proven that whenever ETH starts outperforming BTC, then an altcoin season is around the corner. This was the case back in 2021, and a glimpse of this was shown back in May 2025. Now, again, as Ethereum widens the gap against Bitcoin, altcoins look primed to begin their next rally.
Ethereum Moves 24% Ahead Of Bitcoin
In the month of July so far, the Bitcoin price has already rallied to multiple new all-time highs, even climbing above $23,000 before correcting back downward. This has led to double-digit gains for the month for BTC, with CryptoRank data putting it at an over 12.3% climb so far this month.
Unlike previous months when the Ethereum price had trailed behind Bitcoin, ETH is now in the lead in terms of gains. The second-largest cryptocurrency by market cap is already up by more than 45% this month alone after crossing the $3,100 level. This puts it 33% ahead of Bitcoin, signaling a turn in the trend.
The last time that the Ethereum price outperformed Bitcoin in 2025 was back in May, when ETH rallied 41.1% on the month compared to BTC’s 11.1% on the month. That same month, major altcoins shot up rapidly, with many rising 50-100% during this time period.
Taking this historical performance into account, the altcoin market is already enjoying the dividends of Ethereum’s outperformance. However, new all-time highs still remain elusive for ETH despite the BTC price being almost double what it was the last time ETH peaked at $4,800.
ETH Still Driving Altcoin Season
Ethereum’s outperformance carries the promise of an altcoin season as large altcoins have rallied alongside it. Over the last 90-day period, which is used to calculate the Altcoin Season Index, the ETH price is up over 125% compared to Bitcoin’s approximately 41.5% during this time period.
The Altcoin Season Index from CoinMarketCap has also moved above the 43-point mark, meaning m43 of the top 100 altcoins by market cap are currently outperforming Bitcoin. While this figure means that the altcoin season has not begun yet, it is a step in the right direction.
Usually, altcoin season is considered in full swing when the index reaches the 75% mark. This means that 75 out of the top 100 altcoins outperform Bitcoin over a 90-day period. Then, once the index crosses the 90% mark, with 90 of altcoins outperforming, it is considered the top of the altcoin season.
