Bitcoin dominance continues to shrink, which altcoins are poised for a breakout?
Bitcoin dominance is on a downward trend as other altcoins like IKA and PUMP rise to the occasion with gains ranging from 25% to above 30%. Here are our top picks for altcoin breakout season.
- Bitcoin dominance has been on a downward trend, falling by more than 5%.
- Some altcoins like Ethereum, Ika and Pump.fun have been seeing gains in the crypto market.
According to a recent CryptoQuant analysis , altcoins are breaking out of resistance levels as Bitcoin ( BTC ) dominance starts to wane. For instance, Ethereum ( ETH ) has been soaring above 170% in the wake of its 10-year anniversary on July 30. It stands only 20% below its historic all-time high, which remains at $4,878 for the past four years.
Despite the fact that Bitcoin has burst through its all-time high multiple times in this month alone, its dominance over the wider crypto market has started dropping gradually. Based on data from TradingView , BTC dominance has taken a free fall dive since the end of last month.
At press time, BTC dominance has fallen 5.87% in the past month and down 5.21% in the past three months. It has fallen from its previous peak at nearly 66% to just 61.37% on July 31. The decline coincides with Bitcoin hitting new highs, catapulting from just $111k to going beyond $122k.
Price chart for Bitcoin dominance in the past few months has been on the decline, July 31, 2025 | Source: TradingView
Meanwhile altcoins like Ethereum and XRP ( XRP ) rallied strongly in the wake of BTC hitting its highs, suggesting traders may be shifting their attention away from BTC and investing more capital into altcoins. This signals a potential for altcoins to shine amidst BTC’s dimming light.
Here are some of the altcoins poised for a breakout sometime soon.
Ethereum
Ethereum has recently broken above key technical patterns, surpassing a long‑term barrier of around $2,770 and clearing the psychological $3,000 ceiling that was $3,000, now analysts have set their sights on breaking the ultimate barrier: $4,000.
Similar to Bitcoin, Ethereum’s rally is fueled by increasing institutional demand; with SharpLink recently buying out $295 million worth of Ethereum, boosting its ETH treasury to 438,190 ETH, which is worth nearly $1.7 billion based on current prices.
At press time, ETH is rising by 2% in the past 24 hours. The second-largest cryptocurrency is currently trading hands at $3,861. In the past week, Ether has been increasing by 6.2%.
Price chart for Ethereum in the past few months, July 30, 2025 | Source: crypto.news
Ika
IKA has been on an ongoing rally with the token rising by 25% in the past 24 hours. The token is poised for a climb above the all-time high if the rally continues. Just two days ago, it had broken through its all-time high and reached $0.0363. The potential for a breakout could be potent considering it is also trending on the charts.
At the moment, the token is in need of a market boost. If adoption of its parallel Multiparty Computation network grows meaningfully, IKA could continue its rally.
Price chart for Ika in the past few months, July 30, 2025 | Source: CoinGecko
Pump.fun
Pump.fun ( PUMP ) had an explosive start that shot the price up to $0.0068 on July 16. Right now, it is 64% below its all-time high, but it is already climbing up the ranks. In the past day alone, the token has risen by 27.6%, becoming one of the top trending tokens of the day.
In the past week it has been on an uphill climb, rising by 8.8%. At its core, Pump.fun aims to democratize Solana ( SOL )-based meme coin creation with a bonding‑curve token model and automated liquidity, raising $500 million at a $4 billion fully diluted valuation.
Price chart for Pump.fun’s token in the past few hours, July 31 | Source: crypto.news
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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