In the past week, the Bitcoin market recorded a new historical peak at 123,091 USD on July 14. However, after reaching the peak, the price of Bitcoin experienced a slight correction, causing concern among many investors. Interestingly, this correction coincided with a strong price increase of many major altcoins, indicating a potential shift in market cash flow.

Whales Pushing BTC to Exchanges – Profit-Taking or Capital Rotation?

According to a post on social media X on July 18, the leading on-chain analytics company Glassnode provided important data: the volume of BTC being transferred from whale wallets to exchanges is increasing significantly.

Specifically, the 7-day SMA of the amount of BTC transferred by large wallets to exchanges is approaching 12,000 BTC – one of the highest levels in 2025. The last time this data reached a similar level was in early November 2024, just before the cryptocurrency market entered a major bull cycle.

Typically, when whales transfer BTC to exchanges, it indicates two possibilities:

  1. Take profit, sell to secure profits.

  2. Rotate capital, transfer BTC to higher-risk assets like altcoins to seek higher returns.

Based on the current trend of the altcoin market, the second scenario is being assessed as more feasible.

Altcoin Accelerating – Altseason Signals Are Gradually Emerging

While the price of Bitcoin only increased slightly by 0.27% over the past 7 days, many major altcoins have performed exceptionally:

  • Ethereum (ETH): up 19.98%

  • XRP: up 25.98%

  • Solana (SOL): up 8.86%

This is a typical characteristic of Altseason – a phase where altcoins outperform Bitcoin, leading to a decline in the market dominance of BTC (Bitcoin Dominance).

When investors take profits from BTC, they often turn to lower-cap altcoins to maximize gains, creating a capital rotation cycle within the crypto ecosystem.

Altseason Index Remains Low – Caution Is Necessary

Although altseason signals are emerging, data from CoinMarketCap shows the Altseason Index is currently at 36/100. According to the analysis:

  • Below 50: Bitcoin continues to outperform most altcoins over the past 90 days.

  • Above 75: Official confirmation of entering Altseason.

Thus, the market has not yet fully entered the complete altseason phase, but positive momentum is clearly forming. Investors need to closely monitor market developments, especially on-chain indicators and trends in capital flow from BTC to altcoins.

Summary

Bitcoin is undergoing a correction after reaching a new peak, while altcoins are seizing the opportunity to break out. The cash flow from whales and market behavior suggest a high likelihood that altseason will arrive soon, but more data is needed for confirmation. For investors, this is a crucial time to closely observe the market and have a reasonable capital allocation strategy. $BTC #Write2Earn