Altcoin Season Index at 29 Confirms Bitcoin-Led Market; Altcoins Continue to Lag
CoinMarketCap’s Altcoin Season Index has fallen to 29, well below the 75 threshold that defines an “altcoin season,” signalling a predominantly Bitcoin-led market. The index measures 90-day performance of the top 100 cryptocurrencies (excluding stablecoins and wrapped assets) versus BTC. Analysts point to macro uncertainty, investor risk aversion and continued institutional demand for Bitcoin — supported by US spot BTC ETF inflows — as key drivers keeping altcoins underperforming. Complementary metrics to watch include Bitcoin dominance, altcoin-vs-BTC trading volume ratios, perpetual funding rates, and stablecoin supply (currently elevated), which represents potential dry powder for a future rotation. Compared with an earlier reading near the mid-30s, the lower 29 score indicates either a slight tightening of BTC outperformance or a methodological/update difference between reports; the practical trader takeaway remains the same: prioritise core BTC exposure, be selective with altcoin positions, and monitor the index moving above ~50 as an early sign of rotation. For traders: maintain discipline, size positions conservatively in altcoins with strong fundamentals and active development, and watch on-chain flows and macro/regulatory catalysts that could accelerate a shift into broader altcoin strength.
Neutral
The Altcoin Season Index at 29 indicates that Bitcoin continues to outperform most top altcoins, so the immediate price impact favors BTC rather than altcoins. This is neutral for the overall crypto market because it signals concentration of gains in Bitcoin instead of broad-market strength; BTC may see continued inflows (bullish for BTC), while altcoins face pressure and selective downside (bearish for many altcoins). In the short term, traders should expect continued BTC leadership, tighter breadth, and potential volatility when rotation signals appear (e.g., index rising above ~50, shifts in BTC dominance, on-chain stablecoin flows). In the medium-to-long term, persistent institutional demand for BTC (such as spot ETF inflows) could sustain BTC outperformance until a clear catalyst (macroeconomic easing, on-chain rotation, or regulatory clarity) triggers capital movement into altcoins. Therefore, trading implications are: overweight BTC, use small, selective altcoin exposure based on fundamentals and liquidity, manage risk with position sizing and stop rules, and monitor volume/funding/stablecoin metrics for early signs of rotation.