Ethereum has risen 31.01% over seven days to around $2,494.68, including a 2.59% daily gain, but two widely followed altseason indexes have not confirmed a broad rotation into altcoins. Bitcoin is around $78,411, up 23.25% over the week, and still represents more than 59% of total crypto market value, compared with Ethereum's roughly 11.4% share. XRP and Zcash (ZEC) have outperformed ETH, gaining about 49% and 64%, respectively. CoinMarketCap's Fear and Greed reading is 80 out of 100, indicating stretched overall sentiment. CoinMarketCap defines altseason as a period when at least 75% of the top 100 coins outperform Bitcoin over 90 days, while BlockchainCenter applies the same threshold to the top 50 coins. BlockchainCenter's gauge stood at 43, below the required level, and it said more than 332 days had passed since the last altcoin season. Both indexes exclude stablecoins such as Tether and asset-backed wrappers including WBTC and stETH. Glassnode said on X on August 24 that 85% of altcoins had funding rates above their mean, describing the reading as the highest since Bitcoin traded at all-time highs and saying such conditions can last for many weeks during an altseason. BitMEX co-founder Arthur Hayes said Ethereum is his second-largest holding after Bitcoin, arguing that its failure to reclaim its 2021 high leaves room to catch up and that it has less risk of going to zero than smaller tokens. Hayes said a decisive move above $3,000 could take ETH beyond $5,000, and separately predicted ETH would outperform every other large-cap asset in the liquidity-driven rebound while potentially pushing Bitcoin dominance toward 40%. Recent weakness in altcoins explains the cautious index readings: Cryptopolitan reported in June that selling had reached all-time highs, with the season index at 49, while more than 84% of altcoins were below their 200-day moving average on June 30, the longest such stretch since the 2022 bear market. CryptoQuant analyst Darkfrost said altcoins had remained tightly correlated with Bitcoin, meaning a strong BTC rally no longer automatically lifts the wider market. The pattern has favored short, narrow rallies in a few liquid tokens rather than the broad market advance required for a confirmed altseason.