- Altcoin sentiment remains weak as buy/sell volume dips by $36B since December
- Bitcoin dominance persists with altseason index stuck at just 23 out of 100
- Market shows fragility as BTC must reclaim $106K to confirm bullish momentum
Bitcoin holds steady near the $104K mark as altcoins underperform and market concerns grow. While Bitcoin bulls stay active, most altcoins remain stuck in a prolonged slump. The broader crypto market feels split, with Bitcoin leading the charge but dragging altcoins in tow.
Investors seeking signs of an altcoin revival may need to wait longer, as recent data paints a rather subdued picture. CryptoQuant’s latest metrics suggest the much-anticipated altseason could be farther away than many hoped.
Altcoin Sentiment Stays Low Despite Market Movements
According to CryptoQuant, the 1-Year Cumulative Buy/Sell Quote Volume Difference for altcoins excluding Bitcoin and Ethereum currently sits at a concerning $36 billion. This figure indicates a serious lack of buyer interest.
Notably, the metric turned positive in December 2024, signaling a temporary top. Since then, the numbers have plunged, implying consistent sell-side dominance. Simply put, altcoin investors seem to be on the sidelines.
Related: Crypto Confusion? These Altcoins Are Holding Strong Under Pressure
The Altcoin Season Index supports this outlook. With a score of just 23 out of 100, it strongly suggests the market is in a “Bitcoin Season.” In such a cycle, Bitcoin typically absorbs capital that might otherwise flow into altcoins. As a result, many smaller tokens face ongoing price pressure.
Glimmer of Hope, but No Guarantees Yet
Analyst Michaël van de Poppe notes that there has been a strong bounce across crypto markets recently. This uptick aligns with global shifts, including falling oil prices and gold nearing a breakdown level.
However, he cautions that the momentum remains fragile. According to him, Bitcoin must first reclaim the $106K level convincingly before any strong upside can be expected.
According to CoinMarketCap data, Bitcoin shows a marginal dip of 0.22%, trading around $104,738. Ethereum also dipped slightly to $2,518.
Related: Altcoin Despair Deepens as Bitcoin Dominance Soars to Multi-Year Highs
Altcoins like BNB and Solana saw steeper losses, down 1.08% and 1.29% respectively. XRP was the exception, edging up by 0.08% to $2.15. Meanwhile, the Fear and Greed Index sits at 48, signaling a neutral sentiment.
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