The crypto market may be entering a new phase as Glassnode’s Altcoin Cycle Signal flips from Bitcoin season to altcoin season. The shift comes after a Bitcoin-led rally in August failed to lift most altcoins. More importantly, the recent rally is spreading across altcoins instead of staying concentrated in Bitcoin.
As of now, the total altcoin market cap has also jumped to $1.17 trillion.
On-chain data from analytics platform Glassnode shows that its Altcoin Cycle Signal tracks whether market performance is favoring Bitcoin or altcoins. Its seven-day average has reached 81.25 on a 0–100 scale, moving above the 75 level that marks altcoin season conditions.
The shift matters because the market behaved differently during the first rally in August. Bitcoin moved sharply higher from $64,000 in early August toward $77,000–$80,000. But altcoins remained relatively flat.
Now the latest rally looks different.
The latest rally looks different. Bitcoin has climbed from the mid-$70,000 range in mid-September and is now near $86,000. At the same time, Glassnode’s Altcoin Cycle Signal has moved into the blue zone, showing stronger altcoin activity.
Glassnode now says, “today’s rally has ignited the full breadth of the altcoin market.”
The market is slowly shifting beyond Bitcoin as traders move more money into altcoins. Bitcoin dominance failed to break above 60% earlier this month and has now dropped to 59.7%.
This shows that Bitcoin holds a smaller share of the total crypto market than it did earlier in the rally.
At the same time, Bitcoin’s move above $86,000 lifted market confidence and triggered nearly $1 billion in liquidations.
The shift is also clear in the wider altcoin market. The total altcoin market cap, excluding Bitcoin, has climbed to around $1.17 trillion, its highest level since late January.
Since August 19, the altcoin market has grown by about 33%, showing that the latest rally is spreading beyond Bitcoin.
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