Bitcoin remains stable as altcoin metrics show steep declines in engagement and performance.
Altcoins show repeated negative momentum signals, aligning with historical correction periods.
Recent on-chain data signals diverging trends between Bitcoin [BTC] and the rest of the altcoin sector.
Analysts at CryptoQuant confirmed Bitcoin’s ongoing consolidation above $83,000.
Source: CryptoQuant
Meanwhile, altcoins grapple with heightened volatility, sliding engagement metrics, and depressed valuations.
Momentum trends tell the first part of the story
From October 2022 through April 2025, Bitcoin’s 365-Day Moving Average (DMA) consistently surpassed 30-day averages across the market, underscoring its dominant momentum.
Altcoins seem to be losing steam. Because the ratio between 365-day and 30-day averages for non-BTC assets stood at -11%, at press time, echoing the downturn witnessed in October 2023.
In fact, both large-cap and mid-to-small cap altcoins have sunk into repeated negative territory—reflecting systemic underperformance vis-à-vis Bitcoin.
Brief growth spurts did emerge between April and June 2024. Having said that, these intervals proved fleeting, with altcoins failing to sustain any real momentum.
Bitcoin, however, displayed consistent resilience through bullish and corrective waves alike, reinforcing its position of dominance.
Moreover, Alphractal’s correlation heatmap shows this divergence.
BTC, by contrast, stayed resilient
Since early 2024, correlation scores between BTC and 56 altcoins have swung wildly.
Source: Alphractal
On top of that, lower correlation levels—often marked in blue—tend to precede volatility spikes and price reversals for Bitcoin, while also aligning with local BTC tops.
At the time of writing, the correlation values oscillated between +1 and -0.5, signifying instability in how altcoins mirror Bitcoin’s price action.
Performance data from leading altcoins reveals a somber picture.
Source: X
ETHUSDT plunged -9.9% to 0.749, BNBUSDT slumped -25.1% to 0.4299, LTCUSDT nearly vanished with -99.66%, trading near 0.0006, and LINKUSDT tumbled -33.97%.
Ethereum’s [ETH] on-chain metrics confirm the frailty.
Source: Glassnode
For example, from late January to April first week, daily active addresses dwindled by 41%, falling from 711,578 to 419,445. On the other hand, ETH itself collapsed from $3,319.97 to $1,805.96—a 45.6% nosedive.
Zooming into Solana reveals a deeper correction
Solana active addresses slid 59%—from 10.3 million on January 20 to 4.18 million on the 4th of April—while price receded 49%, from $242.35 to $122.77.
Source: Glassnode
BTC looks steadier by comparison.
Active addresses dropped by just 26%, from over 1.1 million in December 2024 to 809,254 by the 5th of April. At the same time, price consolidated between $80,000 and $86,000 through March and April.
Source: CryptoQuant
Transaction volume on the Bitcoin network dropped by 45%, declining from 533,599 on the 23rd of March to 293,310 by the 5th of April. Despite this, Bitcoin’s price only fell by 4% during the same period, signaling a phase of consolidation rather than capitulation.
This data highlights a stark contrast between Bitcoin, the crypto market’s leading asset, and its alternatives.
Altcoins appear to be facing deeper engagement challenges, which extend beyond simple price declines. Meanwhile, Bitcoin remains the most resilient option, though some view its reduced network activity as a sign of decreasing speculative interest.
Next: Ethereum faces 46% yearly loss – A steeper decline is possible IF…
