Altcoins Soar, Bitcoin Bounces Back: Is the Crypto Party Just Getting Started?

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Markets

What to know:

  • Bitcoin‘s dominance slipped to 59.1%, as XRP, XLM, and HBAR put on a show, gaining double digits, all thanks to the fresh wave of retail hype.
  • The total value locked (TVL) across protocols surged to $142.8 billion, with a 20% spike in Starknet Bridge and Suilend inflows – the crypto world’s version of a growth spurt.
  • CoinMarketCap’s “altcoin season” indicator jumped from 23 to 34, signaling that the altcoins are finally getting their moment in the sun, as Bitcoin gently rises to $106,500.

The crypto market had a lovely weekend, bouncing back after two weeks of doom and gloom. Bitcoin rose 4% in the last 24 hours and even hit a glorious $106,500 before settling at around $106,000. This is all part of Bitcoin’s master plan to avoid falling into the dreaded support level of $100,000. Ether wasn’t about to let Bitcoin steal all the spotlight and added 6.5% to its own tally.

Meanwhile, the altcoin market decided to leave Bitcoin in the dust. With Bitcoin’s dominance dipping to 59.1% from the high of 60.1% on November 5, this signals that the much-anticipated $2,000 tariff dividend in the U.S. might just be the secret sauce altcoins needed for their meteoric rise, just like during the Covid days. It’s almost like history repeating itself, but in the most thrilling way possible.

The DeFi sector is also celebrating, with the total value locked (TVL) climbing to $142.8 billion. Starknet Bridge TVL spiked by 20% to a solid $913 million, while Suilend followed suit, increasing by 20%. Maybe they just needed a good pep talk?

The rise in TVL is likely due to asset appreciation, but let’s be real – the SUI token only went up 7%, so it’s probably investors depositing cash to make some sweet yields. If this isn’t a sign of market confidence, what is?

Derivatives positioning

By Omkar Godbole

  • Despite Bitcoin’s fancy bounce to $106,000, Deribit options are still showing a preference for puts, like a cautious investor at a dinner party who refuses to touch the wine. In contrast, Ethereum options are showing a bullish outlook, with calls trading at a premium to puts for January expiry.
  • Block flows revealed a long position on a $99,000 put expiring November 14, and a bull call spread in Ethereum, where calls are being placed at $3,900 and $4,400 strikes. Both sets of calls are expiring on November 21. Someone’s feeling optimistic.
  • Options flow has been mixed, with call fly buyers suggesting optimism while call spread sellers seem to expect a capped rally. Make up your mind, folks!
  • In the futures market, XRP, LTC, and LINK have seen double-digit growth in open interest (OI) in the past 24 hours. Their spot prices are looking pretty spiffy, but OI is a bit of a mixed bag across the board.
  • The OI-adjust a bit of selling in futures while spot prices keep on rallying. Hmm, sustainability questions, anyone?
  • DOT stands out with negative funding rates, suggesting that traders are betting against it. Ouch. Who hurt DOT?

Token Talk

By Oliver Knight

  • Altcoins are throwing a wild party on Monday, thanks to President Donald Trump’s announcement of a $2,000 tariff-related dividend for U.S. citizens. Looks like the free money keeps on flowing.
  • Among the stars of the show: Trump-linked coins, which surged by 26% during Monday’s Asian hours. Talk about a political advantage!
  • XRP, XLM, and HBAR have all posted gains of more than 10% in the past 24 hours, likely fueled by retail investors – the everyday heroes who are ready to claim their dividend spoils.
  • CoinMarketCap’s “altcoin season” indicator has risen from a gloomy 23/100 to a much sunnier 34/100, which should make any altcoin fan feel a little less nervous. Meanwhile, Bitcoin climbed to $106,500 on Monday.
  • The privacy coin sector, however, took a little nap. Monero and Dash both posted small losses after a serious rally over the past two weeks. Everyone needs a break, right?
  • The DeFi market also seemed to be catching its breath, with total value locked (TVL) across all protocols increasing to $142.8 billion from $136.2 billion as the weekend came to a close. Looks like DeFi’s weekend was a bit more successful than that ill-fated dinner party you had last month.

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2025-11-10 14:43