Bitcoin Soars to $80,000 as Altcoins Struggle to Reclaim Former Highs

Bitcoin has surged to nearly $80,000 after billions flooded back into the crypto market. Ethereum is trading at around $2,452 per unit, still 50.4% below its all-time high of $4,946. Altcoins have posted impressive gains, with the Altcoin Season Index reaching 43, up from a low of 25 in May.

Despite some altcoins skyrocketing, such as PUMP and ENA, which have risen by 192% and 69% respectively over the last three months, many still have a long way to go before reclaiming their former highs. PUMP needs to climb another 39.7%, while ENA faces an even steeper 89.2% gain.

However, some altcoins are bucking this trend, with zcash (ZEC) reaching a fresh peak after surging by 75.15% this week. Aave has also ripped higher, up 65.48%, but still needs another 78.5% gain to reach its all-time high.

While social media is abuzz with calls of an impending 'Altseason 3.0', Google searches for the term 'altcoin' remain lukewarm, currently scoring just 26 out of 100 over the past 12 months.