The post Here’s The Key Sign Suggesting Altcoin Season Is Coming In August appeared first on Coinpedia Fintech News
While Bitcoin recently broke above the $120,000 mark, its momentum has slowed down. Altcoins are finally showing signs of life, and this time, it looks real. Prices are rising fast, trading volumes are exploding, and market behavior is changing.
According to data from CryptoQuant, we might be stepping into a true altcoin season, but not the kind most people saw coming.
Ethereum Leads the Altcoin Rally
This altcoin rally seems to have been triggered by SharpLink’s massive $1.3 billion investment into Ethereum, as highlighted by CryptoQuant. The firm now holds 438,190 ETH, giving a strong push to market confidence.
Meanwhile, Ethereum has jumped 170% from its recent lows and is now just 23% away from its all-time high of $4,871. And ETH’s strong recovery has sparked similar moves across several other altcoins.
Shifting Futures trading Volume
On the other hand, CryptoQuant’s data also shows a big shift in trader behavior. Futures trading volume for Ethereum and other altcoins has reached $223.6 billion, the highest in five months.
This means that altcoins and Ethereum now make up 83% of total futures volume, while Bitcoin is down to just 17%.
Retail Investors Are Losing Interest in Bitcoin
Further CryptoQuant data shows a drop in Bitcoin demand from retail investors over the last 30 days. Normally, when Bitcoin grabs attention, altcoins follow.
CryptoQuant’s data shows a 9.7% rise in Bitcoin transactions under $10K, a pattern often seen before major altcoin rallies.
Bitcoin Dominance Falling, Altcoins Rising
As Bitcoin dominance has dropped nearly 7% in recent weeks, more traders are now shifting their focus to altcoins. CryptoQuant also points out that only 23 out of 424 Binance futures pairs turned negative after Bitcoin hit new highs, meaning most altcoins are gaining strength.
Put all this together, weak Bitcoin retail demand, low altcoin volume, and quiet futures markets, and it looks like the market is preparing for a change.
If history repeats, altcoin season might not be loud at the start.
