Altcoins Dominate 60% of Binance Trading Volume - BTC and ETH Dethroned

Digital underdogs stage market coup as alternative cryptocurrencies capture majority share on world's largest exchange.

The New Kings of Crypto

Alternative digital assets now command 60% of all trading activity on Binance, decisively overtaking Bitcoin and Ethereum combined. Market dynamics shift as traders flock to newer projects while legacy cryptocurrencies watch their dominance erode.

Rotation Revolution

Retail and institutional money pours into altcoin markets, chasing higher returns beyond the established blue-chips. Trading patterns suggest investors are betting big on emerging protocols and layer-2 solutions while traditional heavyweights struggle to maintain relevance.

Market Darwinism in Action

The volume surge signals either brilliant diversification or pure speculative frenzy—depending on which overpaid analyst you ask. Either way, the crypto ecosystem evolves faster than regulators can draft their next 'protective' guidelines that somehow always benefit the big banks.

Welcome to the altseason renaissance, where yesterday's moonshots become today's market movers while Bitcoin maximalists quietly recalculate their spreadsheets.

Veteran Investors Signal Extended Downturn Ahead

Burniske’s bearish stance gained traction after he warned on October 17 that the last Oct 10 massacre broke crypto for a while, making it hard to quickly build a sustained bid after such a meltdown.

He noted that while Bitcoin and ethereum remain in elevated ranges, cracks are showing, with MicroStrategy slipping and gold sending warnings alongside credit markets.

Alliance DAO’s QwQiao has also previously reinforced this pessimism by reiterating his September prediction that a large cohort of “” buying spot and ETFs will need to liquidate positions before the market can resume its supercycle.

pretty much https://t.co/5fmWl2rUsG

One observer pointed out that IBIT’s cost basis sits at $80,500, warning of massive acceleration in ETF outflows and market dumping by zombie companies, with IBIT’s floor unlikely to mark the bear market bottom.

Veteran trader Peter Brandt also offered a contrarian long-term view, stating that this dumping is the best thing that could happen to Bitcoin.

While still holding 40% of his maximum position at a price one-twentieth of Michael Saylor’s average buy, Brandt predicted the next bull market should take Bitcoin to $200,000 by Q3 2029.

Full disclosure folks
Of my maximum ever bitcoin position I still own 40%, at a price 1/20th of Saylor's avg buy.
I am a long-term bull on Bitcoin. This dumping is the best thing that could happen to Bitcoin. The next bull market in Bitcoin should take us to $200,000 or so. That…

Institutional Retreat and Forced Selling Pressure

The selling pressure intensified dramatically, with a group of 12 US-listed Bitcoin exchange-traded funds seeing $903 million in net outflows on Thursday—their second-largest single-day redemption since debuting in January 2024.

According to Bloomberg, open interest in perpetual futures has fallen 35% from its October peak of $94 billion, while institutions appear reluctant to buy the dip amid incredibly poor sentiment across the board.

The rout follows a crippling bout of liquidations on October 10 that wiped out $19 billion in Leveraged token bets, erasing roughly $1.5 trillion from the combined market value of all cryptocurrencies.

Ether fell as much as 7.6% to below $2,700, with liquidations surpassing $1 billion across multiple timeframes, the latest spike nearly hitting $1 billion in just one hour.

Pratik Kala, portfolio manager at Apollo Crypto, noted there appears to be a forced seller in the market with unclear depth.

“Sentiment across the board is incredibly poor,” he said.

Market Breakdown and Historical Pattern Recognition

Analyst Michael Van De Poppe identified the turning point, stating, “something broke down terribly on the 10th of October,” which remains visible in current Bitcoin market behavior.

The implosion of Do Kwon’s TerraUSD stablecoin project in May 2022 sparked a daisy chain of corporate failures that culminated in FTX’s downfall, which was the last time Bitcoin experienced comparable monthly losses.

Benjamin Cowen, CEO of Into The Crypto, reminded investors that “bear markets are normal,” noting “Bitcoin has always topped in Q4 of the post-halving year and then bottomed approximately one year later.”

He advised traders to “trade the market you have, not the market you want” as all sorts of narratives circulate.

All sorts of narratives will circulate.

But bear markets are normal.

Bitcoin has always topped in Q4 of the post-halving year and then bottomed approximately 1 year later.

Trade the market you have, not the market you want

Analyst Plan C presented a long-term Bitcoin model with 99.72% accuracy at the lower end, designed to provide multiple possible outcomes rather than a single price prediction.

The model shows Bitcoin’s volatility narrowing over time, though where prices fall within the projected range depends on external market factors and investor psychology.

The broader market backdrop offered little support, with US stocks surrendering AI-driven gains amid concerns over stretched valuations and doubts about a Federal Reserve rate cut in December.

The wider crypto sector faces mounting pressure as the bear market unfolds, with no clear bottom in sight.