Celestia Jumps 16%, Altcoins Outperform Bitcoin Amid Ambiguous Fed Signals
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- Celestia (TIA) memimpin penguatan altcoin dengan kenaikan 16%, disusul Injective dan LayerZero, sementara Bitcoin hanya bergerak tipis di sekitar $82.100.
- Ketua Fed Kevin Warsh tidak memberi petunjuk arah suku bunga, menurunkan peluang kenaikan Oktober menjadi 15% dan memicu rotasi dana ke aset berisiko.
- Indeks Altcoin Season naik ke 60, menandakan pasar mulai meninggalkan dominasi Bitcoin dan beralih ke altcoin.
The crypto market recorded a significant rotation on Friday (16/10/2026) as several altcoins managed to outperform Bitcoin. Celestia (TIA) was the star with a 16% jump, while Injective (INJ) and LayerZero (ZRO) gained 7.7% and 7.3% respectively. Bitcoin itself moved only slightly around $82,100 after briefly touching a low of $81,600 in the early hours, but it held above the $80,000 threshold that had been breached a day earlier.
The altcoin strength was reflected in the CoinDesk 100 Index (CD100), where four of its five members gained, and in CoinMarketCap's Altcoin Season Index, which jumped to 60 from 50 previously. Meanwhile, ether (ETH) rose only 0.5% to around $2,450, and the broader CD80 index posted a 0.46% gain. This phenomenon indicates that liquidity is starting to spread to smaller-capitalization assets, leaving Bitcoin's dominant position relatively stagnant.
The main driver of this rotation was a statement by Federal Reserve Chair Kevin Warsh in his speech at the IMF and World Bank meetings in Bangkok. Warsh declined to signal the direction of interest rate policy for this month's meeting, leading market participants to lower their rate hike expectations to just 15% based on CME Fedwatch data. This uncertainty actually pushed investors to seek higher returns in crypto assets, especially altcoins with greater volatility.
"The market interpreted Warsh's silence as a dovish signal, so funds flowed into risk assets," said a crypto market analyst who declined to be named.
Positive sentiment also came from Asian stock markets, which managed to rebound after a sharp sell-off on Thursday. South Korea's Kospi index closed up 2.05%, followed by Japan's Nikkei, which rose 1.39%. Meanwhile, S&P 500 futures were flat after the index ended three consecutive days of declines. Stability in traditional markets gave crypto assets room to continue their bullish momentum.
On the other hand, stablecoin yields based on real-world assets (RWA) held at 5-7% from real credit, while crypto funding compressed to around 4%. The GENIUS initiative, which pushes yields off-chain, is projected to increase the total addressable market (TAM) to $4 billion over the next three years. This shows that innovation in the decentralized finance sector continues, even as the market is in a consolidation phase.
For Indonesian investors, this dynamic is worth watching. As a country with growing crypto adoption, the shift from Bitcoin to altcoins could affect domestic retail portfolios. Many local exchanges have recorded an increase in altcoin trading volume in recent months, along with the search for higher yields amid uncertain global interest rates. Clear regulation from Bappebti and OJK is key to maintaining the stability of the domestic crypto market.
Looking ahead, the big question is whether this rotation into altcoins is sustainable or only temporary. If the Fed actually holds rates, altcoins could continue to strengthen. However, if Warsh gives a hawkish signal at the upcoming meeting, a correction could happen quickly. Investors are advised to remain alert to volatility and manage risk wisely.
