Ethereum May Be Leading Market Shift as Spot Volume Surpasses Bitcoin Amid Growing Altcoin Interest
Main Idea
Ethereum has surpassed Bitcoin in weekly spot trading volume, signaling a potential market shift, with institutional flows favoring Ethereum ETFs and altcoins gaining momentum.
Key Points
1. Ethereum (ETH) recorded $25.7 billion in weekly spot volume, overtaking Bitcoin's (BTC) $24.4 billion, marking the first time since mid-2024.
2. Ethereum-focused ETFs have seen 15 consecutive days of net inflows, while Bitcoin ETFs have experienced consistent outflows.
3. Bitcoin's market dominance dropped nearly 3% in a week to 60.78%, with altcoins showing early signs of a rally.
4. The Altcoin Season Index peaked at 55, indicating building momentum, though a confirmed altseason requires it to surpass 75.
5. Ethereum's outperformance against Bitcoin since April has seen the ETH/BTC ratio climb to 0.031, the highest in over six months.
Description
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