- Ethereum tops Bitcoin in 24h futures volume, hitting $62.1B vs BTC’s $61.7B, momentum shifts.
- Bitcoin faces $108.1M in 24h liquidations, the highest among assets, as volatility intensifies.
- ETH/BTC monthly chart forms double bottom at 0.0166, hinting at trend reversal and upside ahead.
Ethereum has officially surpassed Bitcoin in 24-hour futures trading volume, marking a rare shift in market dynamics, according to the latest data from Glassnode. ETH clocked in an impressive $62.1 billion in futures trading volume, surpassing Bitcoin’s $61.7 billion. While the margin is narrow, the shift signals a notable change in market behavior.
Ethereum’s open interest (OI) currently stands at $26 billion, with a 24-hour OI increase of 9.82%, higher than Bitcoin’s 5.52%, even though BTC leads in total OI at $57.6 billion. Furthermore, Ethereum’s futures trading volume jumped 66.95% in the last 24 hours.
Traders Rotate to Altcoins Amid Ethereum Futures Boom
Altcoins are also gaining significant traction, signaling a broader shift in market attention beyond Ethereum and Bitcoin. Cardano and Stellar are leading a quiet but powerful altcoin uprising. Stellar recorded the highest open interest (OI) growth among all assets, surging by 28.66% over the past 24 hours. Cardano saw a 122.8% surge in 24-hour trading volume, indicating a strong uptick in trader interest and growing confidence in altcoin positions.
Memecoins like Pepe and Dogwifhat stood out with unusually high OI-to-market-cap ratios of 0.151 and 0.317, signaling that the appetite for high-risk, high-reward plays is far from fading.
Upon closer examination, funding rates are painting a bullish picture. Tokens like XRP, Sui, and Uniswap posted favorable rates, with both Sui and XRP reaching 0.0094%. These numbers indicate that long traders are gaining ground, reinforcing the notion that sentiment is shifting toward further price action, particularly for promising altcoins.
However, the shift in momentum hasn’t come without turbulence. Bitcoin saw $108.1 million in liquidations in just 24 hours, the highest of any asset tracked. This is a stark reminder that as traders reposition toward altcoins, volatility is intensifying. Legacy assets like BTC are still absorbing the brunt of overleveraged bets and sudden market shifts.
The market narrative is shifting. While Bitcoin remains dominant, Ethereum’s growing presence in the futures market signals that leadership in the crypto space is becoming more diversified. From blue-chip altcoins to speculative plays, the market’s energy is redistributing, fueling a broader rotation that could reshape crypto trading in the months to come. The spotlight is expanding, and the altcoin era may be quietly unfolding right before our eyes.
Related: U.S. Spot Bitcoin ETFs Hit $50B in Net Inflows, Led by BlackRock’s IBIT
Ethereum Builds Strength Against Bitcoin
The technical picture aligns with the shift in future sentiment. The ETH/BTC monthly chart reveals a notable double-bottom formation within a well-defined demand zone, historically a strong signal of trend reversal. After months of decline, ETH/BTC has bounced off the 0.0166 support level and is currently trading around 0.0250, up over 8% on the month.
This bottoming structure mirrors the 2019–2020 cycle, where Ethereum found support in the same region before staging a major rally against Bitcoin. The Relative Strength Index (RSI) also shows early signs of buying pressure after reaching deeply oversold territory.
This momentum reversal, paired with increased futures volume and favorable funding rates, suggests Ethereum could be at the start of a broader upward trend against BTC. Key resistance lies around the 0.049–0.086 levels—previous consolidation zones that now serve as potential upside targets.
If Ethereum continues to gain dominance in derivatives and spot market flows, a move toward the 23.6% and 38.2% Fibonacci retracement levels isn’t out of reach. Traders are already responding to this setup, as evidenced by the surge in leverage and speculative activity.
