Institutional Crypto Treasuries Leave Altcoins Behind
Industry sources report that capital is returning to Bitcoin despite mounting predictions of an impending altcoin season. The conventional crypto market cycle is coming under scrutiny because of this move toward corporate cryptocurrency treasuries. Crypto market intelligence firm 10x Research estimates that corporate digital asset treasuries (DATs) have taken around $800 billion in retail investor funds out of the altcoin market.
Liquidity, momentum, and conviction have all migrated elsewhere, leaving the altcoin market eerily quiet. Our models show a decisive rotation back into Bitcoin, even as Korean retail traders, once the heart of altcoin speculation, shift their focus to U.S. crypto stocks. Altcoins have underperformed Bitcoin by roughly $800 billion this cycle — a shortfall that would have largely benefited retail investors,
10x Research
Investors Abandon Altcoins for Bitcoin Ahead of Market Shakeout
One important cryptocurrency indicator indicates a change in investor behavior despite persistent demands for an altcoin season. Instead of smaller cryptocurrencies, investors might be looking for more exposure to Bitcoin. According to the technical altcoin model cited by 10x Research, cryptocurrency investments are turning back toward Bitcoin. This pattern implies that altcoins’ earlier impetus has been shattered by the $19 billion cryptocurrency market fall.
The model’s pivot back toward Bitcoin came at a critical moment, two weeks before altcoins suffered a sharp sell-off on October 11, 2025,
10x
Bitcoin Momentum Strengthens Despite Altcoin Market Weakness
Bitcoin season will continue to be indicated until the altcoin season indicator from CoinMarketCap crosses the 75 mark, which is currently at 23. One bright spot in the collapse is that investors might view the historic $19 billion liquidation event as a chance to purchase. Geoff Kendrick, global head of digital assets research at Standard Chartered, told Cointelegraph that this dynamic might help push Bitcoin above $200,000 before the year is out.
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