Altcoins Lag as Bitcoin ETFs Drive Liquidity, Delaying Season 2025

Despite Bitcoin hitting a record high of $126,000 in early October 2025, the altcoin market has stalled. The total value of altcoins, excluding stablecoins, remains under $1.6 trillion, mirroring levels seen at the end of 2021. This gap between Bitcoin’s momentum and altcoin performance is raising questions about the future trajectory of the altcoin market and whether a true recovery will materialize in 2025.