Money Returns to Bitcoin: Is Altcoin Season Cancelled Again?
The long-awaited altcoin season appears unlikely, as market data indicate a clear shift of capital back into Bitcoin. According to CoinMarketCap, BTC’s market dominance has risen to 59.1%, while the leading cryptocurrency is recovering from a weekly low of $104,000.
Despite analysts’ forecasts of a potential altcoin revival, ETF flows show that both institutional and retail investors are currently focusing more on BTC than on altcoins.
On October 23, spot Ethereum funds recorded one of the largest daily outflows since their launch — investors withdrew over $128 million in a single trading day, with no funds reporting inflows.
In contrast, spot Bitcoin ETFs saw a net inflow of $20.33 million, with the largest contribution of $108 million coming from BlackRock’s IBIT.
According to CryptoQuant, Bitcoin continues to dominate the Binance futures market, accounting for 27.17% of the total futures volume, which reached $2.002 trillion in October.
Monthly Bitcoin futures trading volume climbed to $543.33 billion, up from $418 billion in September, reflecting growing activity and market confidence.
Crypto influencer Ash Crypto noted that bull markets typically begin with liquidity flowing into safer assets before spreading to riskier ones. He explained that the sequence often follows this pattern: US Dollar → Bitcoin → Ethereum → large-cap stocks → small-cap stocks. This trend was observed in previous cycles in 2017 and 2021, and it may repeat in 2025.
See also: "Binance Token Rises After Zhao’s Pardon: What Happened in the Crypto Market"
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