Over the previous week, the Bitcoin (BTC) market recorded a brand new all-time excessive at $123,091 on July 14. Nevertheless, the premier cryptocurrency has skilled a slight worth retracement since reaching this milestone. Curiously, this fall in Bitcoin market costs has collided with a widespread achieve within the altcoin market, with particular large-cap tokens notching up outstanding good points.
7-Day SMA Bitcoin Whale Exchange Transfers Close to 12,000 BTC – Glassnode
In an X publish of July 18, distinguished blockchain analytics agency Glassnode shares a profound on-chain perception on the Bitcoin market, stating that the quantity of whale transfers to exchanges is presently on the rise. Notably, this improvement comes as Bitcoin experiences a average worth correction after reaching a brand new ATH earlier final week, as beforehand said.
Glassnode explains that the 7-day easy shifting common (SMA) of BTC transferred from whale wallets to exchanges is approaching 12,000 BTC, one of many highest weekly volumes recorded in 2025. Curiously, this surge in switch mirrors ranges final seen in early November 2024, a interval that preceded a preferred crypto bull run.
When giant holders transfer their BTC to centralized exchanges, it usually suggests they’re getting ready to liquidate some or all of their positions, both to take earnings or to rotate capital into different alternatives. Nevertheless, the latter situation appears possible, particularly contemplating latest tendencies within the altcoin market.
Amidst Bitcoin’s worth correction, a number of altcoins have recorded vital worth good points, prompting concepts that the altseason could have begun. For context, information from CoinMarketCap exhibits that the premier cryptocurrency skilled a mere 0.27% achieve over the previous week, whereas altcoins similar to Ethereum, XRP, and Solana registered worth surges of 19.98%, 25.98%, and eight.86%, respectively.
Traditionally, this improvement mirrors a attribute altseason, when different cryptocurrencies usually outperform Bitcoin, resulting in a decline in Bitcoin’s market dominance. Altseasons are triggered when traders start reallocating earnings from BTC into higher-beta belongings, searching for bigger returns as a result of decrease market caps of those tokens.
Nevertheless, extra information from CoinMarketCap exhibits the altseason index is at 36/100, indicating that whereas altcoins are starting to achieve momentum, the market has not but totally transitioned right into a confirmed altseason. An index worth beneath 50 means that Bitcoin continues to be outperforming a majority of altcoins over 90 days. Buyers ought to keep alert for a cross above 75 which might counsel a full-fledged altseason to be declared.
Bitcoin Worth Overview
On the time of writing, Bitcoin trades at $118,377 following a 0.49% decline prior to now day.
