Data from The Block shows Bitcoin’s spot-to-futures trading volume (30-day moving average) has climbed to 0.30 as of November 6, 2025 — its highest level since February 2025.
This rebound marks a full recovery from the April low near 0.17, signaling renewed demand in the spot market relative to derivatives. The rising ratio suggests traders are increasingly favoring direct Bitcoin purchases over leveraged futures exposure, reflecting stronger organic market participation.
Analysts note that higher spot activity often aligns with institutional accumulation phases and may indicate growing confidence in Bitcoin’s long-term value despite recent volatility.
Altcoin Season Index Drops to 23 as Bitcoin Regains Dominance
The latest data from CoinMarketCap shows the Altcoin Season Index at 23/100, signaling a strong Bitcoin Season. This marks a sharp decline from last month’s 55, reflecting a broad market rotation back toward Bitcoin.
The global crypto market cap currently stands at $3.41 trillion, down 1.54% in the past 24 hours, retreating from its yearly high of $4.62 trillion recorded in early October 2025.
While Bitcoin continues to outperform most altcoins, the Altcoin Market Cap has struggled to hold above $1.6 trillion, showing decreased investor appetite for higher-risk assets. Analysts note that such readings often precede capital rotation phases, where Bitcoin dominance peaks before the next altcoin rally.
