Lead
The Altcoin Season Index stands at 39, signaling it is not currently altcoin season as Bitcoin continues to outperform most major altcoins. Over the last 90 days, only 17 of the top 50 cryptocurrencies have beaten Bitcoin's performance, underscoring sustained Bitcoin dominance.
"It is not Altcoin Season!"
Key Metrics
- Altcoin Season Index: 39 (below the typical altseason threshold)
- Days since last altcoin season: 187
- Average altcoin season length: 60 days
- Altcoins outperforming Bitcoin (last 90 days): 17 out of 50
- Coverage: Performance comparison is based on the top 50 cryptocurrencies by market capitalization
Context and Interpretation
The Altcoin Season Index tracks whether a majority of leading altcoins are outperforming Bitcoin over a 90-day window. Historically, readings near 75 or above indicate an altcoin season, when a broad share of altcoins outpace Bitcoin. A current reading of 39 indicates the market remains tilted toward Bitcoin, with most alternative tokens lagging.
The data show a clear trend: across the top 50 assets, a minority have outperformed Bitcoin, while a significant number have underperformed. This dynamic suggests capital remains concentrated in Bitcoin amid tighter risk appetite or a preference for more established crypto assets.
Market Impact
- Bitcoin dominance: The continued outperformance reinforces Bitcoin’s role as the market’s benchmark during periods of uncertainty or consolidation.
- Altcoin performance: With just 17/50 altcoins beating BTC, dispersion remains high and selectivity matters for traders focused on non-Bitcoin assets.
- Timing considerations: The reading of 187 days since the last altcoin season versus an average 60 days for such periods highlights how extended the current non-altseason stretch has become.
Looking Ahead
Until the index meaningfully rises—typically when a broad swath of top altcoins outperforms Bitcoin—conditions are likely to favor BTC. Traders watching for a potential rotation into altcoins will be looking for an uptick in the index and a widening number of altcoins surpassing Bitcoin over the 90-day horizon.