Bitcoin spot volumes on Binance and other major exchanges have dropped to very low levels, similar to those seen in 2023 coming out of the bear market.

This is a first signal pointing to the current lack of interest in Bitcoin.

Even though volumes are declining, it’s still interesting to note that altcoins now represent the largest share of volume on Binance.

In May, Bitcoin dominated trading and accounted for nearly 40% of volumes compared to ETH and altcoins.

Today, altcoins dominate volumes at over 60%, compared to just 22% for Bitcoin and 18% for ETH.

Investor boredom is setting in. Bitcoin has barely moved for weeks, and some seem to be favoring altcoins, likely hoping to take advantage of the little volatility present in the markets.

It’s worth noting that altcoins have corrected much more sharply than

Bitcoin, so some investors are betting they can outperform Bitcoin by positioning in altcoins instead.

A risky bet, but one that can pay off for those who manage to handle their positions strategically.

Written by Darkfost