ATOM Slips 5% as Bitcoin Regains Dominance After Altcoin Season
1The long-awaited altcoin season is beginning to fizzle out as bitcoin starts to build back dominance.
ATOM, the native token of the Cosmos network, tumbled 5% in the past 24 hours as Bitcoin regained momentum, pulling market attention back to large-cap assets. The move comes after last week’s “altcoin season,” where ATOM and other mid-cap tokens outperformed BTC in a broad rally.
ATOM fell from $5.26 to $4.98 between July 21 at 11:00 and July 22 at 10:00 UTC, facing heavy resistance at $5.32 during the 15:00 trading hour. Trading volumes spiked to 1.79 million units by 16:00 as sellers overwhelmed buy orders, leading to a clear technical breakdown.
The token briefly stabilized near $4.97 overnight, where renewed buying interest pushed ATOM into a narrow $4.95–$5.05 consolidation range. A modest bounce saw prices recover 0.4% from $4.97 to $4.99 in the hour ending 10:06 UTC, though traders remain cautious about follow-through momentum.
This week’s price action underscores a shift in market focus back to Bitcoin, which is clawing back gains after altcoins dominated headlines last week.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
Oliver Knight is the co-leader of CoinDesk data tokens and data team. Before joining CoinDesk in 2022 Oliver spent three years as the chief reporter at Coin Rivet. He first started investing in bitcoin in 2013 and spent a period of his career working at a market making firm in the UK. He does not currently have any crypto holdings.
CoinDesk Analytics is CoinDesk's AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk's editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
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https://www.coindesk.com/markets/2025/07/22/atom-slips-5-as-bitcoin-regains-dominance-after-altcoin-season
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