Wintermute released its 2025 OTC Markets Report on January 13, 2026, highlighting shifts in cryptocurrency trading dynamics primarily around BTC, ETH, and altcoins.
The report indicates a lack of sustained altcoin performance, reflecting a structural market shift towards major cryptocurrencies, impacting investor strategies and market liquidity.
Altcoin Rotation and Market Trends
Wintermute released its 2025 OTC Markets Report on January 13, 2026, noting the anticipated massive rotation to altcoins never occurred. Instead, trading activity remained concentrated in BTC, ETH, and a few select altcoins.
The firm revealed that retail investors initially turned to altcoins in early 2025, but market conditions forced a shift back. Institutional flows remained concentrated in BTC and ETH, leading to stable liquidity.
The market impact was immediate as altcoin rallies were unsustainable. Liquidity stayed focused on majors, reflecting investor caution. Retail and institutional players gravitated towards safer assets like BTC and ETH.
Financial implications included a shorter altcoin rally duration than previous cycles. This reflected macroeconomic uncertainty and exhaustion within altcoin narratives, leading to heightened demand for stability in major tokens.
Wintermute's report demonstrated a shift in trading habits among investors, with majors leading market activity. This indicated a preference for tokens with proven stability amid global uncertainties. One key takeaway from the report is: "Altcoin rallies have shrunk to just 20 days in 2025, as liquidity concentrates on Bitcoin and Ethereum."
The trends highlighted could reshape market strategies, influencing future allocations. Historical data suggests retail and institutional strategies may align increasingly toward established coins, backed by liquidity and market reliability. BTC and ETH dominate for safer havens.