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.
ETH shows the way
Source: X
Ethereum often acts as the early signal for altcoin momentum, and Bitmine’s massive $480 million ETH purchase could be that first hint.
Data showed six new wallets, likely tied to Bitmine, withdrawing over 128,000 ETH from FalconX and Kraken shortly after the crash.
Source: CoinGlass
