Ethereum Flips Bitcoin in Net Capital Flow – Altcoin Season Officially Here?

The king is dead—long live the king? Ethereum's net capital change just overtook Bitcoin's for the first time in 2025, sparking frenzied speculation about a full-blown altcoin rally.

Why it matters: When ETH steals Bitcoin's liquidity crown, history suggests altcoins follow like lemmings. The last time this happened, DOGE and SHIB mooned while Wall Street analysts scrambled to explain 'memecoins.'

Between the lines: Traders are rotating out of BTC's safety play into higher-beta alts—classic risk-on behavior. Never mind that half these projects won't exist in 12 months (but hey, neither will your neighborhood bank).

Bottom line: The flippening isn't coming—it's already here. Whether this marks sustainable growth or just another crypto casino rotation remains to be seen. Place your bets.

In the turning event of the crypto market, ethereum ($ETH) net capital change has surpassed Bitcoin ($BTC). Crypto analysts believe that this is a clear indication that altcoin season is finally at hand. Ali, a prominent crypto analyst and trader, has shared the statistical details through his official X account.

Ethereum $ETH net capital change has just surpassed Bitcoin $BTC. This is the clearest signal yet that altcoin season is officially here! pic.twitter.com/LNEbZ6nVOu

Ethereum Leads as Altcoin Season Gains Momentum

The data for the altcoin season is taken from Glassnode, which shows that Ethereum’s net capital change stands at $0.0661 while Bitcoin ($BTC) stands at $0.0478. This difference indicates how Ethereum (ETH) has outpaced Bitcoin ($BTC) in terms of net capital change. This divergence indicates a major shift in the interest of crypto investors and traders in altcoins, which are surging significantly

What’s more, this dynamic shift has drawn the attention of the crypto traders and investors and signals the official beginning of the altcoin season, with Ethereum leading the charge. In addition to that, stablecoins have also recorded a significant net capital change of $0.0534, which showcases that liquidity is flowing into the risky altcoins.

A Strong Shift Toward Altcoin Season

Bitcoin ($BTC) remains strong and is currently trading at $118,534.18, but its slower capital inflow as compared to Ethereum ($ETH) suggests traders are rotating profits into alternative assets for bigger returns. Market momentum shows how investors’ sentiment is shifting in favour of altcoins.

The $ETH-$BTC net capital change crossover has a solid history in terms of a bellwether for the altcoin rallies. If history repeats itself, the above-mentioned trend clearly indicates the altcoin season is officially here. This time, the combination of growing dominance of Ethereum ($ETH), stablecoin liquidity inflows, and a positive market oscillator makes the case even stronger for the altcoin rally.