The cryptocurrency market is showing signs of a shift as leading altcoins record stronger gains than Bitcoin. Bitcoin has been moving strongly so far this year, even reaching $124,000 in the middle of this month. However, in recent days it has started to dip, while several major alternative coins have pushed higher. This has raised questions about whether the much-anticipated “altcoin season” could be approaching.
Chainlink (LINK) is leading the group of strong movers. The token gained 13% yesterday, wiping out its earlier losses, and has carried that momentum into today with a further 5% rise in the past 24 hours, according to CoinGecko. This upward trend is not limited to Chainlink, as other major altcoins are also posting notable gains.
BNB, the token of the BNB Chain, has been one of the strongest performers. Since the start of the month, it has risen steadily, reaching a new record of $882 on Wednesday , according to CoinMarketCap. It has since eased to around $862, yet the token remains more than 3% higher in the last 24 hours. The new milestone highlights the strength of demand for BNB compared to the rest of the market.
Ethereum has also moved higher after recovering from a brief drop. The token advanced 7% to $4,350, reversing the decline it saw the day before. Over the past 24 hours, it is still up more than 3%, continuing its rebound. Market analyst Michaël van de Poppe described the move as a strong recovery and noted it signals the possibility of another test of previous highs.
Other altcoins have joined the rise. Solana has gained more than 4%, Cardano has added 2.5%, and Aave is up more than 4%. Together, these moves underline how altcoins are currently outpacing Bitcoin.
In contrast, Bitcoin’s gains remain modest. Over the past 24 hours, the largest cryptocurrency has added just 0.2% and is around $113,800. When compared to sharper rises seen in several altcoins, Bitcoin’s performance looks muted.
A report from CryptoQuant suggests that demand for Bitcoin has slowed sharply . So, what are the data saying?
This cooling demand has been reflected in Bitcoin’s share of the overall market. Its dominance is now close to a six-month low. At the same time, altcoins have been gaining traction, showing that investors are increasingly willing to direct capital away from Bitcoin and toward alternative assets.
While altcoins are outperforming, analysts suggest this period may not resemble previous cycles. ByteTree analysts Shehriyar Ali and Charlie Morris have pointed out that the next phase, if it develops into a full altcoin season, is unlikely to deliver the same broad surges seen in earlier years . Instead, they expect selective growth, where coins with strong fundamentals and proven utility are rewarded, while weaker tokens without solid backing may struggle to advance.
The Altcoin Index, currently at 41, reinforces this view. The measure shows that altcoins are holding up strongly against Bitcoin, and the current positioning leaves room for further upside if investor momentum continues to shift toward these assets .