Altcoin Perpetual Open Interest Surpasses Bitcoin as Rotation Accelerates

Altcoin perpetual open interest reportedly exceeded Bitcoin's for the first time since December 2024, led by Zcash, SOL, and XRP. ZEC's sharp privacy-narrative rally, leverage concentration, BTC dominance near 59%-59.7%, and an altseason index near 41 point to speculative rotation and liquidation risk rather than confirmed broad altseason.