Altcoin selling pressure reached $209B as BTC volumes led the market
As of January 2025, Altcoins excluding Ether (ETH) recorded a net sales volume of $209 billion.
On Binance, the altcoin trading volume has decreased by 50% since November 2025, indicating a steady drop in activity. The reduction coincides with an increase in the share of Bitcoin volume on cash exchanges.
Analysts say the decline in altcoin demand, along with the dominance of stablecoins, indicates that the broader market is shifting capital to BTC during the current downturn.
Altcoin spot rate volatility is deeper than Bitcoin.
Crypto analyst IT Tech estimates that the accumulated bid-ask spread for altcoins, excluding BTC and Ether (ETH), is $209 billion. The scale measures spot demand for altcoin trading pairs between centralized exchanges. A positive reading in January 2025 indicates an increase in short-term demand for space.
A negative cumulative delta on this scale indicates the absence of consistent position buyers. The analyst gauge does not indicate market volatility as it tracks net flow imbalances rather than valuations. Over the past 13 months, capital has flown out of the altcoin markets without any reverse flows.
Volume data from Binance reinforces the shift. As BTC tested the $60,000 level at the beginning of February, the total trading volume was re-distributed. On February 7, Bitcoin volumes rose to 36.8% of the total activity. Altcoin volumes fell to 33.6% in mid-February, from a peak of 59.2% in November.
According to crypto analyst Darkfost, similar rotations were seen in April 2025, August 2024 and October 2022. During these correction phases, capital is merged into Bitcoin and altcoin volumes contract.
Related: New Bitcoin Whales Are Caught in the Water, But for How Long?
Tether's dominance rises to a new high.
Tether USDt (USDT)'s market price dominance reached 8% on the one-week chart, matching the all-time high between June 2022 and October 2023. The increasing dominance of stablecoins coincides with capital flowing into dollar-pegged assets rather than investing in tokens like BTC (BTC) and Ether (ETH).
As seen in 2022 and 2023, USDT's dominance coincided with Bitcoin continuing to strengthen during bear market lows. A decline in dominance is often one of the first signs of a renewed bullish trend.
Previously, the USDT dominance chart produced lows of 3.80-4% in March 2024, December 2024 and October 2025. These periods coincided with Bitcoin setting new all-time highs of $72,000, $104,000 and $126,000 respectively.
RELATED: Wells Fargo sees ‘YOLO' business driving $150B into bitcoin and risk assets
This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision. While we strive to provide accurate and up-to-date information, Cointelegraph does not guarantee the accuracy, completeness or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph shall not be liable for any loss or damage arising from reliance on this information.
