Altcoin trading volume on Binance has dropped nearly 50% from November to mid-February, pointing to a broad rotation back into Bitcoin. CryptoQuant analyst Darkfost said the same pattern showed up in earlier corrective periods, including April 2025, August 2024, and October 2022, when market participants shifted toward assets seen as more defensive.
Bitcoin is now trading between $65,000 and $72,000. Darkfost said Bitcoin’s share of trading volume tends to climb during periods of uncertainty and market stress. That shift is drawing in whales, long-term holders, and institutions, with exchange activity concentrating around BTC again.
Binance activity tilts back toward Bitcoin
The split in Binance trading volume shows how sharply the market structure has changed. Bitcoin now accounts for 36.8% of total exchange volume, while Ethereum represents 27.8%. Altcoins, by comparison, have fallen to 33.6% from 59.2% in November.
This is more than a simple move between individual tokens. It points to a wider reduction in risk appetite, with traders favoring the most liquid and established asset during volatile stretches. In that setup, Bitcoin has moved back to the center of market activity.
Altcoins face 13 months of net selling in spot markets
CryptoQuant analyst IT Tech said altcoins are now under unusually heavy sell pressure. Excluding Bitcoin and Ethereum, the cumulative difference between buying and selling in altcoins has fallen to -$209 billion since January 2025. In IT Tech’s view, retail participation has faded, smart money has already rotated out, and there is still no visible sign of institutional accumulation in altcoins.
He described the current backdrop as 13 straight months of net selling on CEX spot markets. Buying support remains limited. Selling pressure has not eased, which helps explain why altcoin activity and turnover have stayed weak even as Bitcoin trades back in a higher range.