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Gap grows between Bitcoin and altcoins.

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Written by The Kaiko Research Team

07/07/2025

    Welcome to the Data Debrief!

    Welcome back to the Data Debrief! Bitcoin came close to a new all-time high last week before strong U.S. jobs data dented rate-cut hopes and pulled markets lower. Yet momentum remains intact, driven by institutional demand and a clear shift toward Bitcoin over altcoins. This week, we explored the structural shifts that may be laying the groundwork for a breakout.

    • SOL staking ETF draws attention

    • jitoSOL leads Solana liquid staking token market

    • Altcoins show rising signs of liquidity stress in Q2

    Chart of the Week

    Gap grows between Bitcoin and altcoins.

    Bitcoin is charting its own course in 2025, boosted by rising institutional flows, improved regulatory clarity, and deepening liquidity on U.S. exchanges. As summer kicks off, the key question is whether this strength signals an impending breakout ?

    So far, the numbers lean bullish. Bitcoin’s risk-adjusted returns now outpace most altcoins, with its Sharpe ratio surpassing high-flyers like SOL and XRP. Lower volatility and steady institutional demand are reinforcing this trend.

    Meanwhile, altcoins are showing signs of fatigue. Market activity is consolidating, with the top ten altcoins now making up 63% of altcoin volume, up from 50% just months ago,  as smaller-cap tokens lose traction.

    Our latest Premium Data Debrief is exploring this growing divergence in market structure and investor preference. For the full story, subscribe here.


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    Data Used In This Analysis

    Our industry-leading research is the direct result of combining our proprietary data with world-class in-house experts. Bringing the very best of Kaiko’s people and data together, we unlock the unique insights that form the basis for our discoveries and analysis. We believe in doing so, our data speaks for itself, helping both our clients and the wider industry get a better understanding of the crypto ecosystem, and the evolving trends and patterns in motion at a regional and global scale.

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