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Bitcoin and ether gain as traders rotate away from altcoins

Bitcoin and ether were the only CoinDesk 20 tokens in positive territory, while altcoin open interest fell about 15% in a month.

Reported · Written up by our desk · Market Structure

CoinDesk reports that bitcoin is outperforming the broader crypto market as traders rotate toward large-cap tokens like bitcoin and ether, while altcoins lose momentum. The shift is reflected in derivatives, with bitcoin showing a cautiously bullish tilt, including rising futures open interest and growing upside options positioning, while XRP and SOL face leverage-driven pressure.

CoinDesk Data shows bitcoin added around 0.9% over the past 24 hours to about $64,700, while the broader CoinDesk 20 index was up roughly 0.16%. Ethereum was also higher, with CoinDesk stating it was up about 1.35% to around $1,900.

The outlet attributes part of the divergence to market plumbing around the biggest tokens, including exposure channels such as ETFs and institutional hedging. Zaheer Ebtikar, chief strategy officer at crypto neobank Plasma, said altcoins are struggling without aggressive support from bitcoin momentum.

CoinDesk also notes that equity market moves and a reversal in tech sentiment could influence crypto risk appetite, citing strength in major US indexes alongside weakness in the Nasdaq 100. The article additionally discusses a token tied to AI computing power, stating that NEAR’s stake-to-compute model links the token to AI compute, though analysts say sustained real demand is required once early incentives fade.

Latest closeBitcoin $64,786.20 ▲0.3%|Ethereum $1,907.89 ▲0.1%|XRP $1.048 ▼1.2%

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