Glassnode indicator at 81.25 signals altcoin season as Bitcoin dominance holds steady

  • Glassnode’s Altcoin Cycle Signal reached 81.25, entering its altcoin-season range.
  • Altcoin market capitalization reached $1.19 trillion, highest since late January.
  • CoinMarketCap’s index rose to 54 but remained below its 75-point threshold.

Glassnode’s Altcoin Cycle Signal reached 81.25 on Monday, a level the firm classifies as altcoin season, as altcoins broadly outpaced Bitcoin. Altcoin market capitalization reached $1.19 trillion on Tuesday, the highest since late January and about 33% above Aug. 19. NEAR gained about 86% over seven days, Bitcoin Cash 59%, Uniswap 53%, Zcash 31%, Cardano 29% and XRP 24%, compared with Bitcoin’s 12% rise. CoinMarketCap’s Altcoin Season Index climbed to 54 from 33 a week earlier but remained below its 75-point threshold. Bitcoin dominance held at 59.0%, little changed from a week earlier and near 59.2% a month earlier. Recent gains were linked to catalysts including planned CME futures for Bitcoin Cash and Uniswap, partnerships, integrations, listings and growth in Aave deposits.

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