Crypto standstill: Will BONK usher in altcoin season?

Crypto standstill: Will BONK usher in altcoin season?

On Sunday, July 6, 2025, the crypto market is showing stagnant development. According to BTC-ECHO, the Bitcoin price remains stable at around $108,000, while the top 10 coins by market capitalization show little movement. Investors are hoping for a possible altcoin season in the coming weeks.

The development surrounding the Solana memecoin BONK is currently attracting attention. The coin continues its rally, driven by speculation about a potential BONK ETF, the announced token burn and increasing usage of the memecoin launchpad LetsBonkFun. This has gained market share, while Pump.fun has fallen below the 50 percent mark. LetsBonkFun's market volume increases continuously throughout the day.

Quiet developments in altcoins

In comparison to the eventful developments at BONK, events at other altcoins remain rather calm. There are small daily fluctuations, but the overall picture shows little movement. Some coins such as Uniswap (UNI) and Nexo (NEXO) are posting slight gains, while Pi Network (PI) and Virtuals (VIRTUAL) are seeing steeper losses.

Bitcoin dominance is currently over 60 percent, indicating that Bitcoin still has a strong presence in the market. Nevertheless, CoinMarketCap's Altcoin Season Index is showing early signs of an increase. Altcoin season is likely to occur when 75 percent of the top 100 coins outperform Bitcoin in the past 90 days. The index, which is updated daily, helps visualize this market sentiment and shows that altcoin performance is often linked to an increase in Bitcoin price and market capitalization over the long term.

Market dynamics and economic situation

The current onchain data suggests an opportune time for a possible rotation to altcoins. A potential breakout of Bitcoin price above $112,000 could spark new investor interest. Meanwhile, investors are not expecting interest rate cuts in the US until September at the earliest, which could also have an impact on market dynamics.

In summary, the crypto market remains stagnant on Sunday, but the first signs of a possible altcoin season can be seen. Market participants are watching developments closely while paying attention to significant price movements and external economic factors.

For more information on altcoin season, visit CoinMarketCap and for the current market analysis, take a look at BTC ECHO over.