Altcoins are bleeding out on centralized exchanges, and the numbers are hard to ignore. CryptoQuant contributor IT Tech flagged a cumulative buy/sell volume difference of approximately -$209 billion for altcoins (excluding Bitcoin and Ethereum), the most extreme sell pressure the market has seen in five years.
According to IT Tech’s analysis, the buy/sell volume on centralized exchanges was hovering near zero as recently as January 2025. Since then, it’s been a one-way street downward. For over a year, more people have been dumping altcoins than buying them. Every single month.
IT Tech characterized the current environment as a “demand vacuum,” driven by three converging forces: retail investors are largely exiting altcoin markets, smart money is rotating into alternative assets or stable holdings, and institutional interest in anything outside of Bitcoin and Ethereum remains nonexistent.
The Altcoin Season Index underscores the pain. It currently sits at approximately 35, well below the 75+ threshold that typically signals altcoin outperformance relative to Bitcoin.
IT Tech explicitly cautioned against interpreting the -$209 billion figure as a bottoming signal. The analyst noted that current indicators do not suggest an impending recovery.
