Altcoins currently account for 71% of the trading volume on Binance futures, signaling a shift of traders away from Bitcoin. Over 32,000 BTC have moved to exchanges, suggesting profit-taking and the potential rotation into altcoins.
$100B Trading Volume on Binance Futures Signals Momentum for Altcoin Season as Traders Move Away from Bitcoin
The long-awaited altcoin season may be kicking into gear as altcoins account for 71% of the trading volume on Binance Futures, according to market data from July 22. Daily trading volume on this platform has surged to $100.7 billion, the highest since February 3, highlighting a significant shift in trader interest away from Bitcoin and towards high-beta altcoins.