[LIVE] BNB price Hits A New ATH Before ETH And SOL As BTC Briefly Touches $120,000

Binance founder Changpeng “CZ” Zhao has drawn attention to CoinMarketCap’s Altcoin Season Index, which has climbed from 16 to 51 over the past month, potentially signaling the start of an altcoin rally. “Not sure how accurate it is, but it is ticking up. FOMO season soon…” CZ posted on X.

The index measures how many of the top 50 altcoins are outperforming Bitcoin over a 90-day period, excluding stablecoins and wrapped assets. A score above 75 typically marks the start of a full-fledged altcoin season.

Recent performance data aligns with past trends. Ethereum is up 110% in the last 90 days, while meme coins like BONK (+148%) and FLOKI (+119%) have surged. Smaller caps like PENGU have gained over 500%, reflecting growing appetite for riskier plays.

Meanwhile, Bitcoin’s dominance has dropped sharply (from nearly 66% to under 61%): its lowest level since March. This shift often marks a phase where capital rotates into altcoins.

Though some analysts argue key cycle indicators haven’t triggered yet, rising altcoin momentum and falling BTC dominance suggest a shift in market sentiment may already be underway.

Can Trump fire Jerome Powell, and is this good for BTC ▼-0.43%? President Donald Trump is continuing his feud with Federal Reserve Chair Jerome Powell this week as he fired off new criticisms but left open the possibility that he might serve out his term, which runs through May 2026.

Speaking to reporters Tuesday, Trump zeroed in on Powell’s approach to interest rates.

“Too late. He’s forever behind the curve,” Trump said, his words laced with irritation. “Rate cuts should’ve happened already.”

Mr. Jerome, you must cut the rates tonight, or none of us will survive, is the sentiment. Asked if he’d move to directly fire Powell, Trump tossed out a pointed aside: “His clock’s ticking down fast.”

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While Bitcoin continues to battle stubborn resistance just under the $120,000 mark, smaller altcoins are stealing the spotlight, none more so than PENGU.

After briefly touching $123,000 last week, Bitcoin has struggled to hold gains, sliding to $116,000 before recovering to the $119,000–$121,000 range. Several failed attempts to break above $120,000 have triggered profit-taking, keeping BTC range-bound for now.

But in the altcoin arena, momentum is picking up. Among the day’s biggest winners is PENGU, which surged over 20% in the past 24 hours, outperforming top gainers like BNB. This price spike marks one of PENGU’s strongest rallies this cycle, suggesting growing interest from traders rotating into high-risk, high-reward assets while BTC consolidates.

While BNB grabbed headlines with a new all-time high above $800, up 300% from its 2023 lows, PENGU’s breakout reflects the rising appetite for meme coins with viral appeal. In a market that’s increasingly looking for the “next big mover,” PENGU’s rapid climb signals that retail enthusiasm is far from cooling off.