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Bitcoin Updates: Gold's Downturn Sparks Shift to Altcoins While Bitcoin Remains Stuck in Crucial Range

Bitcoin Updates: Gold's Downturn Sparks Shift to Altcoins While Bitcoin Remains Stuck in Crucial Range

Bitget-RWA2025/10/24 18:56
By:Bitget-RWA

- Ethereum forms bullish "triple bottom" pattern near $3,800, signaling potential breakout above $4,000 as large holders accumulate. - Bitcoin stalls in $107k–$111.5k range amid gold's 6.3% single-day crash, triggering capital rotation into crypto risk assets. - Altcoin Season Index at 24 favors Bitcoin despite $1.46T market cap threshold seen as critical for broader crypto breakout. - Digitap ($TAP) emerges as rotation beneficiary with hybrid crypto/fiat infrastructure as market fear/greed index hits 29-y

Altcoin Surge Anticipated as Ethereum Breaks Resistance, Signaling Major Capital Shift from Equities and Gold

The crypto sector appears to be on the verge of a significant transition, with

(ETH) displaying a bullish chart formation and (BTC) attracting unprecedented investment as gold’s recent downturn prompts investors to seek higher-risk assets. Although Bitcoin continues to trade within a tight band ahead of a pivotal October milestone, both blockchain data and market sentiment indicate a broader capital shift is in progress, potentially favoring altcoins.

Bitcoin Updates: Gold's Downturn Sparks Shift to Altcoins While Bitcoin Remains Stuck in Crucial Range image 0

Bitcoin, which has found it challenging to build on its “Uptober” momentum, was trading around $111,300 at the time of writing, fluctuating between $107,000 and $111,500. The leading digital asset has slipped 2.3% since the start of the month, sparking worries about a rare negative October during a bull market. CoinGlass historical trends show that Bitcoin typically climbs about 20% in October during robust years, aiming for $130,000. Nevertheless, U.S. spot Bitcoin ETFs experienced renewed inflows on October 21, with BlackRock’s iShares Bitcoin Trust (IBIT) at the forefront, recording $210.9 million in net investments, as detailed in a

.

Ethereum has also come into focus as a potential breakout asset. The second-largest crypto was valued at $3,957 after a 6.5% decline since the month began, but on-chain metrics reveal a “triple bottom” pattern near $3,750–$3,800, indicating robust support, according to a

. Surpassing the $4,000 mark could confirm a reversal, with short-term targets around $4,280. Despite outflows from ETH ETFs—$128 million in net withdrawals on October 23—Glassnode data indicates that major investors are accumulating, hinting at a potential recovery, as the same CryptoNews report notes.

This movement into crypto comes after a steep drop in gold, which plunged 6.3% in a single session—the largest fall since April 2013. Experts attribute the gold sell-off to profit-taking after a historic rally, with funds now moving into Bitcoin and alternative cryptocurrencies. “Bitcoin is just the initial destination following a significant gold sell-off,” one analyst commented, pointing out that Bitcoin’s market share has fallen from nearly 60%, suggesting a pivot toward smaller digital assets, as reported by a

.

Still, the much-anticipated “altcoin season” has not yet arrived. While Bitcoin ETFs drew $20.33 million in new funds on October 23, Ethereum ETFs saw $128 million withdrawn, and the Altcoin Season Index stands at 24, still favoring Bitcoin, according to a

. CryptoQuant data shows Bitcoin’s dominance in futures markets continues, with Binance’s October trading volume hitting $543.33 billion—a 30% jump from September—demonstrating institutional faith in Bitcoin’s breakout prospects, as highlighted in the Yahoo Finance article.

The overall market remains wary, with the Crypto Fear and Greed Index at 29—its lowest since early 2025—reflecting increased caution amid U.S.-China tensions and global uncertainties, as noted by CryptoNews. Nevertheless, technical signals and blockchain activity point to an impending change. “Liquidity rotation has begun,” said crypto influencer Mister Crypto, forecasting a “major breakout” for altcoins if the $1.46 trillion market cap threshold is surpassed, the GlobePRWire article concluded.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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