According to CryptoQuant's latest report, investors are strategically shifting capital from Bitcoin to Ethereum and established altcoins, marking a significant market realignment. Ethereum's weekly spot trading volume reached $25.7 billion, exceeding Bitcoin's $24.4 billion for the first time since June 2024, pushing the ETH/BTC volume ratio above 1.
This rotation is fueled by ETF anticipation and institutional preferences for stable assets. Ethereum has outperformed Bitcoin by 72% since April 2024, with its ETH/BTC ratio climbing from 0.018 to 0.031 – the highest since January 2024. CryptoQuant CEO Ki Young Ju noted: "The new cycle sees capital primarily flowing into widely accepted altcoins rather than speculative micro-cap tokens," highlighting institutional accumulation in large-cap assets like Ethereum and Solana.
Key indicators show reduced ETH exchange inflows compared to Bitcoin, signaling strong holding sentiment. The ETH/BTC ETF holding ratio more than doubled from 0.05 to 0.12, reflecting increased institutional allocation. Simultaneously, the broader altcoin market recorded $67 billion in spot volume on July 17 – the highest since March – indicating diversified investor interest beyond dominant cryptocurrencies.