Altcoin Buy-Sell Volume Drops 45 Billion USD, Altseason Unlikely

Altcoin market sentiment remains uncertain as the 1-year cumulative buy-sell volume for non-BTC and non-ETH assets continues to lag behind expectations. The 1-year cumulative buy/sell quote volume difference for altcoins has dropped significantly, remaining deep in negative territory despite recent improvements in BTC price action. The metric has remained firmly below the zero line since mid-2021, reaching lows exceeding -45 billion USD during the bear phase spanning 2022 to 2023. Despite a minor recovery through late 2024, the metric has again declined sharply.

Analysts caution that a full altseason remains unlikely unless this metric turns upward. The 1-year cumulative buy-sell volume difference has historically indicated shifts in market structure. When the metric rises above zero, it suggests buyers dominate sellers. In contrast, a dip below zero highlights stronger selling pressure across centralized exchanges. Without positive momentum in buy-side volume, sustained altcoin growth may not materialize. Traders and analysts continue to monitor this chart as a vital health check for broader market participation.

Bitcoin’s price trend diverges from this data. Even as BTC climbs above 100K, altcoin buy-side strength fails to mirror that trajectory. This gap suggests investor focus remains heavily concentrated in BTC while capital rotation into altcoins remains limited. The chart’s implications extend beyond technical readings. It questions whether true altcoin momentum is building or if current interest is speculative. The lack of volume recovery is a major hurdle for any sustained altseason.

Historically, strong altcoin seasons followed a notable rise in this indicator. The last time this occurred was in early 2021, just before a major rally. Since then, however, activity has weakened, and despite rising prices, volume trends show reduced conviction. This leads to the central question: can the cumulative altcoin buy-sell volume metric reverse in time to spark a new altseason? Altcoins remain under pressure. Despite rising asset prices in select sectors, broader interest remains narrow. Without volume, rallies may lack sustainability. Until this metric rises again, a lasting rotation into altcoins could remain elusive.