Altcoins Under Pressure as Altcoin Season Index Hits 2025 Low
Altcoins are losing momentum as the Altcoin Season Index fell to 15, its lowest level in 2025, reflecting broad market weakness. CoinMarketCap data show most altcoins posted losses over the past 90 days; only a handful — notably privacy-focused projects — produced gains. Standouts included Pippin (huge quarterly gains) and privacy coins such as Zcash, Dash, Monero and Merlin Chain. Many other tokens, including DoubleZero, Story, MYX Finance, Immutable and Pudgy Penguins, plunged more than 60%. Market sentiment has shifted toward “fear” (Crypto Fear & Greed Index ~25) and futures open interest has fallen after a large liquidation event on October 10 that erased about $20 billion and forced roughly 1.6 million liquidations. Technicals for the aggregated altcoin market (ex-BTC/ETH) are bearish: market cap dropped from $1.19T in October to $825B, forming a double-top around $1.16T with a neckline at $658B. Price sits below the 50- and 200-day EMAs, with RSI and MACD trending lower. Analysts warn of a potential test of $739B (50% Fibonacci retracement) and, if broken, a slide toward $658B. The article notes the contrasting influence of US spot Ethereum ETF interest but concludes current indicators favor further altcoin downside. (Disclaimer: not investment advice.)
Bearish
The article highlights several bearish indicators for the altcoin market. The Altcoin Season Index at 15 signals broad underperformance relative to Bitcoin. Sentiment measures (Fear & Greed Index ~25) and reduced futures open interest after a major $20B liquidation event point to lower risk appetite and deleveraging — conditions that typically pressure higher-beta assets like altcoins. Technicals are weak: aggregated altcoin market cap fell from $1.19T to $825B, a double-top pattern with a neckline at $658B, and prices sit below 50- and 200-day EMAs while RSI and MACD trend down. Analysts expect a potential test of $739B (50% Fibonacci) and further downside if that breaks. Historically, similar deleveraging events and large liquidations (e.g., 2018/2022 drawdowns) accelerated outflows from altcoins, prolonging bear phases. Short-term impact: elevated volatility and increased downside risk for many altcoins; traders should expect continued weak breadth and selective safe-haven flows (e.g., BTC, ETH, some privacy coins). Long-term impact: if ETF-led demand for spot ETH materializes it could support ETH and reduce relative selling pressure, but many smaller altcoins may remain under pressure until macro sentiment, liquidity, and leverage metrics recover. Risk management (reduced leverage, tight stops, focus on liquidity) is advised.