Bitcoin News Today: Retail Shifts to Altcoins, Yet Bitcoin's Grip Remains Unshaken

Bitcoin's market dominance appears to be under pressure as investors weigh bets on an emerging altcoin season, despite technical indicators and institutional forecasts suggesting the world's largest cryptocurrency remains in a consolidation phase. With Bitcoin stabilizing around $108,000 amid ETF inflows, an FXStreet report says the market is closely monitoring whether a shift in capital toward alternative cryptocurrencies will gain momentum-or if Bitcoin will retain its stronghold.

Galaxy Digital CEO Mike Novogratz, according to Benzinga, has highlighted a potential catalyst for a Bitcoin breakout, stating that a premature move by Donald Trump on Federal Reserve policy, combined with the passage of a pending market structure bill, could propel Bitcoin above $125,000. However, technical analysis reveals Bitcoin is testing critical support near $108,000, with a breakdown below this level risking a descent toward $104,000 and even $92,000. Institutional flows also remain cautious, with recent inflows of $25.6 million on Oct. 22 failing to offset broader outflows since mid-year.

Meanwhile, corporate crypto treasuries have attracted $800 billion in retail capital from altcoins, signaling a significant rotation toward Bitcoin and stabilizing assets, Coinotag reports. This shift, driven by institutional strategies, has left altcoins stagnant. "Liquidity, momentum, and conviction have all migrated elsewhere," according to 10x Research, noting that even Korean retail traders-traditionally altcoin speculators-are pivoting to U.S. crypto stocks. CoinMarketCap's altcoin season index at 23 further underscores Bitcoin's dominance, with a threshold of 75 needed to confirm a true altcoin rally.

Yet, altcoin activity shows signs of stirring. South Korea's Upbit exchange announced the listing of Orderly (ORDER) on its KRW market, while Binance-backed ASTER revealed a buyback plan allocating 70-80% of Season 3 trading fees to repurchase tokens. ASTER's 10% price surge was linked to Trump's pardon of Binance founder Changpeng Zhao (CZ), reinvigorating bullish sentiment in the Binance ecosystem. Robinhood's recent BNB launch in the U.S. also highlights growing retail access to altcoins, potentially expanding liquidity for BNB and other tokens.

Tether's upcoming U.S. dollar-pegged stablecoin, USAT, designed for the American market, may further influence capital flows. Scheduled for a December launch, USAT aims to integrate with platforms like Rumble to reach 100 million U.S. users. Separately, corporate giants like SpaceX have moved $257 million in Bitcoin, as reported by TradingView, reigniting discussions about institutional crypto allocations.

Investors remain split on Bitcoin's trajectory. While Standard Chartered's Geoff Kendrick views recent corrections as buying opportunities, suggesting Bitcoin could hit $200,000 by year-end, others caution against overestimating altcoin potential. With Bitcoin's dominance index and technical indicators still favoring the leader, the market's next move will likely hinge on regulatory clarity, macroeconomic shifts, and whether institutional inflows continue to outweigh retail speculation.

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