No altseason yet! Inside the growing rift between Bitcoin and altcoins
The post No altseason yet! Inside the growing rift between Bitcoin and altcoins appeared on BitcoinEthereumNews.com.
Altcoins have been hammered by nearly $1 billion in long liquidations since the Bitcoin ETF launch. As BTC consolidates demand near new highs, altcoins remain trapped in a speculative long squeeze. Bitcoin dominance [BTC.D] has done what it always does in a bull market, soaking up liquidity and starving altcoins. Even as Bitcoin [BTC] printed a new all-time high, mega-caps like Ethereum [ETH], Solana [SOL], and Ripple [XRP] couldn’t keep up. Forget new highs, most large caps couldn’t even flip key resistance levels. But under the hood, the data tells an even sharper story. Dissecting the divergence Before the 2022 bear market hit, during the 2021 cycle, Bitcoin topped out around $69,000 in November, and altcoins pretty much followed the move. Case in point: Ethereum hit its all-time high at about $4,891, Solana peaked near $236, Binance Coin [BNB] got up to $671, and even Dogecoin [DOGE] made it to $0.73. All in all, liquidity flowed hot and heavy across the board, fueling a broad-based rally. This synchronized upswing? That’s the OG “altseason” in full effect. Fast-forward to now, and that synchronized rotation is missing. What’s changed? CryptoQuant’s on-chain metrics reveal a clear divergence. Since the launch of the Bitcoin ETF, liquidation behavior has split sharply between BTC and the rest of the market. On Binance, Bitcoin’s Cumulative Liquidation Delta (CLD) shows shorts got crushed by roughly $190 million, meaning bears were getting squeezed hard as BTC climbed higher. Source: CryptoQuant Meanwhile, altcoins played a completely different game. Long liquidations dominated the scene, outpacing shorts by nearly $1 billion. This tells us traders were betting big on an “altseason” that never showed up, and paid the price for it. Since December 2024, this gap has only grown wider. While BTC keeps steamrolling shorts and breaking new ground, leveraged altcoin bulls are…
Filed under: News - @ June 1, 2025 2:21 am