Glassnode: Altcoins Lose Steam as Bitcoin Spot Volume Stays Weak
- —Share of altcoins beating BTC fell from 7 in 10 to 3 in 10 in the first week of October
- —Bitcoin spot volume at $6.8 billion a day, below 90% of days since January 2024
- —Open interest relative to market cap for large-cap altcoins is highest since the October 2025 crash
- —Traders are spending $17 million more per day on calls than on puts
Why it matters: Accumulated altcoin leverage has not been flushed out, raising the risk of another forced liquidation wave if prices keep falling.
Source: Livecoins