Is capital rotating from Bitcoin to altcoins after the crash?
Bitcoin dominance has slipped to around 60%, so we could be in the beginning stages.
Can Ethereum lead the next altcoin rally?
Bitmine’s $480 million ETH accumulation shows early confidence that could trigger broader altcoin momentum.
After one of the sharpest liquidations of the year, traders appear to be rotating back into altcoins.
Bitcoin’s [BTC] market dominance dropped to 60% in just two days, so capital may be flowing toward higher-risk assets. Ethereum [ETH] led the rebound, with Bitmine’s big purchase earlier this week.
Despite muted numbers, can altcoins rise?
Altcoin markets steady after wipeout
The crypto market witnessed its biggest liquidation event in history recently – over $19 billion in leveraged positions vanished within a single day, wiping out more than 1.6 million traders.
Source: TradingView
The above chart showed how the Total Crypto Market Cap (excluding BTC and ETH) plunged sharply before finding stability near the $1 trillion mark. But interestingly, this massive shakeout might create the comeback.
According to Joao Wedson, CEO of Alphractal, the funds exiting Bitcoin and liquidated positions are now “flowing fast into other altcoins.”
Source: X
If that’s true, the coming week could bring unexpected altcoin surges as traders chase new opportunities across the market.
BTC.D cools off
Bitcoin’s Dominance slipped to 60.45% at press time, easing after a sharp surge earlier this week. The numbers indicate indecision, with momentum cooling following a strong spike on the 10th of October.
Source: TradingView
So traders are cautiously rotating out of BTC and exploring altcoins again. If dominance continues to soften, it could open the door for stronger altcoin recoveries in the days ahead, especially if liquidity from Bitcoin starts spreading across other major assets.
Data showed six new wallets, likely tied to Bitmine, withdrawing over 128,000 ETH from FalconX and Kraken shortly after the crash.
Source: CoinGlass
With the Altcoin Season Index hovering at 47, the market hadn’t fully risk-on yet, but this accumulation could be a sign of confidence. If ETH continues to lead inflows, it may be the start of a broader altcoin revival.
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