Odaily reported that CryptoQuant founder Ki Young Ju said the capital rotation from Bitcoin into altcoins, once an important force behind altcoin rallies, has largely disappeared. His comments focused on a change in market structure, rather than on a short-term price move. According to his post, the earlier pattern in which Bitcoin gains spilled over into a broad altcoin rally is no longer functioning in the same way.
BTC-paired altcoin volume has contracted
Ki Young Ju pointed out that since 2021, trading volume for altcoins quoted against BTC has declined significantly. He said this shows that the structure of the crypto market has changed clearly. In that framework, altcoins are no longer mainly driven by capital moving out of Bitcoin trading pairs, weakening the old market logic often described as “Bitcoin rises, then altcoins rise together.”
In Ki Young Ju’s view, the era of Bitcoin-led broad altcoin rallies has changed. He said future upside in altcoins will depend more on each asset’s own fundamentals, use cases, and independent capital inflows, rather than simply relying on rotation effects triggered by Bitcoin’s market performance.