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Altcoins, excluding Ether (ETH), person recorded $209 cardinal successful nett selling measurement since January 2025, marking 1 of the steepest declines successful speculative request for crypto assets this cycle.
On Binance, altcoin trading volumes dropped astir 50% since November 2025, reflecting a dependable dip successful activity. The alteration besides coincides with an summation successful Bitcoin’s measurement stock connected the exchange.
Analysts said that the contraction successful altcoin demand, alongside elevated stablecoin dominance, signals that the broader marketplace is shifting its superior toward BTC during the existent downtrend.
Altcoin spot measurement imbalance deepens against Bitcoin
Crypto expert IT Tech noted that the cumulative bargain and merchantability quality for altcoins, excluding BTC and Ether (ETH), reached -$209 billion. The metric measures nett spot request crossed centralized exchanges for altcoin trading pairs. A affirmative speechmaking indicates rising spot demand, which was concisely observed backmost successful January 2025.
1-year cumulative buy-sell measurement for Altcoins (excludes ETH). Source: CryptoQuantA antagonistic cumulative delta astatine this standard signals the lack of accordant spot buyers. The expert noted that the metric tracks nett travel imbalance alternatively than terms valuation, truthful it does not bespeak a marketplace bottom. Over the past 13 months, superior has exited the altcoin markets without important counterflows.
Volume information from Binance reinforces the shift. As BTC tested the $60,000 level successful aboriginal February, the full trading measurement was redistributed. On Feb. 7, Bitcoin volumes roseate to 36.8% of full activity. Altcoin volumes dropped to 33.6% by mid-February, from a precocious of 59.2% successful November.
According to crypto expert Darkfost, akin rotations appeared successful April 2025, August 2024, and October 2022. During these corrective phases, superior consolidated into Bitcoin portion altcoin volumes contracted.
Bitcoin, Altcoins measurement activity. Source: CryptoQuantRelated: New Bitcoin whales are trapped underwater, but for however long?
Tether dominance rises to its all-time precocious level
Tether’s USDt (USDT) marketplace headdress dominance reached the 8% level connected the one-week chart, aligning with anterior highs which lasted betwixt June 2022 and October 2023. The rising stablecoin dominance typically coincides with superior moving into dollar-pegged assets alternatively than deploying into tokens similar BTC (BTC) and Ether (ETH).
USDT.D and BTC terms illustration comparison. Source: Cointelegraph/TradingViewAs observed, the elevated USDT dominance coincided with Bitcoin consolidating adjacent carnivore marketplace lows, arsenic observed successful 2022 and 2023. A diminution successful dominance has often marked 1 of the earliest signals of a renewed bullish trend.
Previously, the USDT dominance illustration formed lows astir 3.80-4% successful March 2024, December 2024, and October 2025. These periods coincided with Bitcoin mounting caller all-time highs adjacent $72,000, $104,000, and $126,000, respectively.
Related: Wells Fargo sees ‘YOLO’ commercialized driving $150B into Bitcoin and hazard assets
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