Altcoins Take Center Stage as Bitcoin Rotates Out; Crypto Crime Surges to Record $2.17B in 2025
Asian Markets Open with Ethereum Leading the Charge
As Thursday trading kicked off across Asia, Bitcoin (BTC) hovered above $120,500—up 1.7% over the past 24 hours—while Ethereum (ETH) surged 3% and pushed toward the $3,500 mark.
According to market maker Enflux, the setup signals a brewing altcoin rotation. “BTC funding and positioning look stretched,” the firm wrote in a note to CoinDesk. Enflux pointed to growing risk appetite, especially in speculative tokens like meme coins, CeFi assets, and names such as Curve and FLOKI, citing Caldera’s 90% daily gain as a telltale sign.
“ETH flows are strengthening, and bid-side altcoin depth is rising,” Enflux added. If these conditions hold, a broader altcoin breakout may follow.
XRP added fuel to the fire, smashing past its long-standing 2018 high of $3.50.
Institutional Flows and On-Chain Data Reinforce ETH Momentum
New research from Coinbase and Glassnode confirms Ethereum’s growing institutional appeal. ETH ETFs brought in $1.7 billion in inflows during Q2, reversing Q1’s outflows.
At the same time, 90% of ETH supply is now in profit, up from just 40% earlier this year. Ethereum’s NUPL indicator has flipped from “capitulation” to “optimism,” reflecting rising confidence in the asset.
Layer-2 usage also continues to climb. Transactions are up 7% while fees have fallen by 39%, showing healthier network conditions.
Still, Coinbase urged caution, saying that not all altcoins will benefit equally. “Performance will be driven by individual factors,” the report noted.
2025 Becomes Crypto’s Most Dangerous Year on Record
Chainalysis revealed that crypto-related thefts have already hit $2.17 billion in 2025, surpassing any previous year. A devastating $1.5 billion exploit of ByBit, blamed on North Korean state-backed hackers, accounted for the bulk of losses.
The scale and speed of the theft are staggering—it took just 142 days to cross the $2B mark this year, compared to 214 days in 2022.
While centralized exchanges remain key targets, a growing share of thefts now hit personal wallets, which made up 23% of losses this year. The report highlights a rise in AI-powered phishing and social engineering attacks.
Even more alarming is the rise in “wrench attacks”—physical assaults aimed at coercing victims into handing over crypto. These incidents are rising in tandem with Bitcoin’s price rallies.
Chainalysis warns that with $8.5 billion in stolen funds still sitting on-chain, more sophisticated—and potentially violent—attacks could follow in the year’s second half.
Market Snapshot
- Bitcoin (BTC): Up 1.7% to $120,500 after news that President Trump may soon sign an executive order allowing crypto in 401(k) accounts.
- Ethereum (ETH): Rallied 3.1% to $3,477.70, backed by ETF inflows and the GENIUS Act.
- XRP: Broke its 2018 high, soaring past $3.50.
- Gold: Fell 1% to $3,315 as U.S. economic data pushed the dollar higher.
- Nikkei 225: Rose 0.075% Thursday and gained another 0.3% Friday to breach 40,000.
- S&P 500: Closed at a record high alongside the Nasdaq, reflecting broad equity strength.
