Altcoin Trading Volume Surges to Four Times Bitcoin’s Amid ETF Inflows

Altcoin spot volume has surged to nearly four times Bitcoin's, according to Glassnode. This is the highest ratio since September 2025, indicating a significant shift in trading activity toward altcoins.

Wintermute reports that retail clients on its OTC desk sold BTC last week to fund this rotation. Meanwhile, US spot Bitcoin ETFs took in nearly $2.4 billion over the same five sessions, with each day's inflow coming in below the previous day's.

The share of supply in profit rose to 74% from 69.3% a week earlier, and the realized profit-to-loss ratio jumped 79.6% to 1.4. This suggests that profit-takers and perpetual sellers were active in the market while ETF buyers took the other side.

The Federal Reserve raised its policy rate range to 3.75% to 4.00% on September 16, which could potentially impact the current regime. Wintermute identifies $82,500 as a key level that capped Bitcoin's previous range and suggests that if Bitcoin holds between this level and its recent high near $87,000, ETF flows will remain positive.