Bitcoin Whale Transfers Surge: Is Altseason on the Horizon?
bitcoin Hits New All-Time High Amid Altcoin Surge
bitcoin Market Overview
In the past week, bitcoin (BTC) reached a remarkable peak of $123,091 on July 14, marking a new all-time high. However, following this achievement, the cryptocurrency has seen a slight decline in its market value. Interestingly, this downturn in bitcoin‘s price coincides with a notable upswing in the altcoin sector, where several major tokens have recorded impressive gains.
Whale Activity and Market Trends
Increased Whale Transfers to Exchanges
On July 18, blockchain analytics firm Glassnode provided valuable insights into bitcoin‘s market dynamics, highlighting a rise in the volume of whale transfers to exchanges. This uptick in activity comes as bitcoin undergoes a moderate price correction after its recent peak.
According to Glassnode, the 7-day simple moving average (SMA) of bitcoin being transferred from whale wallets to exchanges is nearing 12,000 BTC, representing one of the highest weekly volumes observed in 2025. This increase in transfers resembles patterns seen in early November 2024, a time that preceded a significant bullish trend in the cryptocurrency market.
Implications of Whale Transfers
When large holders transfer their bitcoin to centralized exchanges, it often indicates a potential intention to liquidate some or all of their holdings, either to secure profits or to reinvest in other opportunities. Given the current trends in the altcoin market, the latter scenario appears more plausible.
Altcoin Market Performance
Altseason Indicators
Despite bitcoin‘s price correction, numerous altcoins have experienced substantial price increases, leading to speculation that an altseason may be underway. Data from CoinMarketCap reveals that bitcoin has only gained 0.27% over the past week, while altcoins like ethereum, XRP, and Solana have surged by 19.98%, 25.98%, and 8.86%, respectively.
Historically, such developments are indicative of an altseason, where other cryptocurrencies tend to outperform bitcoin, resulting in a decrease in bitcoin‘s market dominance. This shift often occurs when investors start reallocating profits from bitcoin into higher-risk assets, seeking greater returns from lower-cap tokens.
Current Altseason Index
However, CoinMarketCap’s altseason index currently stands at 36 out of 100, suggesting that while altcoins are gaining traction, the market has not yet fully transitioned into a confirmed altseason. An index score below 50 indicates that bitcoin is still outperforming most altcoins over a 90-day period. Investors should remain vigilant for a rise above 75, which would signal a definitive altseason.
bitcoin Price Update
As of the latest update, bitcoin is trading at $118,377, reflecting a 0.49% decline in the past 24 hours.
