Bitcoin is holding steady near $120,000, but attention is rapidly shifting toward altcoins and Ethereum.
Over the past 19 days, Bitcoin’s dominance has steadily declined, according to CryptoQuant data. This coincides with a significant surge in altcoin trading activity—futures volume for altcoins and Ethereum just hit $223.6 billion, a five-month high. Meanwhile, Bitcoin’s share of futures trading on centralized exchanges has dropped to just 17%, with Ethereum and altcoins now commanding a dominant 83%.
This rotation has also been reflected in investor behavior. Retail demand is rising again, with transactions under $10,000 increasing by 9.7% over the past month. Historically, this has preceded major rallies in both Bitcoin and alternative cryptocurrencies. Analysts are also tracking how only 23 out of 424 Binance futures pairs have posted negative returns since Bitcoin broke its all-time high—showing strong sector-wide performance.
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ETH Treasuries Reach $10.57B While Spot ETFs Match 19-Day Streak
Much of the recent market momentum began with Ethereum, following SharpLink’s $1.3 billion investment, which brought their total ETH holdings to over 438,000 ETH. This institutional signal appears to have kicked off a broader rally across Ethereum-linked assets.
With Bitcoin dominance continuing its 19-day slide and altcoin sentiment heating up, the trend suggests traders are looking beyond BTC for higher upside. Altcoins are benefiting from renewed speculative momentum, increased leverage, and institutional ETH accumulation—all of which may fuel further upside if current patterns hold.
Kosta Gushterov
Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.
