Altcoins reached 65% of Binance trading volume, their highest share in more than two years, as Bitcoin rallied nearly 30%.

Altcoins also added about $135 billion in market capitalization excluding Ethereum, underscoring the jump in trading activity during the rally.

Michael van de Poppe warned that even modest Bitcoin declines could trigger sharper losses across altcoins before any further move higher.

Altcoin trading activity rose sharply as Bitcoin posted nearly 30% gains over several days, according to analyst Darkfost. Altcoins added about $135 billion in market capitalization excluding Ethereum, while their share of Binance volume climbed to 65%. Van de Poppe, meanwhile, expects further Bitcoin gains but says altcoins could face sharp dips during smaller BTC corrections.

Darkfost said altcoins overwhelmingly drove trading activity during the rally, leaving Bitcoin and Ethereum behind on Binance. According to the analyst, the exchange accounts for nearly 40% of altcoin trading volume across exchanges, making the move notable beyond a single venue.

At the peak, altcoins represented 65% of Binance volume, the highest share recorded there in over two years. Bitcoin accounted for 21%, while Ethereum made up 13.6% at the same time. The shift came alongside a roughly $135 billion increase in Total2 market capitalization. Darkfost uses Total2 to measure the market while excluding Ethereum.

Bitcoin Levels Remain in Focus

Michael van de Poppe described Bitcoin’s price action as indecisive chop while identifying several levels to watch. He said Bitcoin could reach $82,700 after breaking through $79,500.

Van de Poppe also pointed to $90,000 as another potential target if the move continues. However, he said Bitcoin has not yet started its next upward run.

His view also extends to Bitcoin’s impact on altcoins. According to van de Poppe, even a small decline in Bitcoin can trigger heavier losses across altcoins, which is why traders often watch BTC strength closely during periods when altcoin volume expands.

Altcoin Dips Follow Bitcoin Moves

Van de Poppe said recent Bitcoin weakness has already produced larger declines among altcoins. He previously warned that altcoin dips could become relatively painful when Bitcoin falls. However, he described those declines as opportunities before another upward move.

His comments came as altcoin volume reached its highest Binance dominance in two years. Darkfost also noted prolonged low volatility and subdued trading volume across the market. The latest rally instead placed altcoins at the center of trading activity, lifting their share of Binance volume to 65%.

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