Altcoin Season Remains Dormant: Altcoin Season Index at Just 37, Market Still Bitcoin-Dominated

The global cryptocurrency market is currently sending clear signals through key indicators. According to the Altcoin Season Index released by leading data platform CoinMarketCap, the latest figure is 37, indicating that the overall performance of major altcoins still significantly lags behind Bitcoin. This number reveals a trend of concentrated capital flow—investors have not yet massively shifted to non-Bitcoin assets, and the market remains in a Bitcoin-centric dominant phase.

The Altcoin Season Index is an important tool for measuring crypto market rotation. Its calculation logic is based on how many of the top 100 crypto assets by market capitalization (excluding stablecoins and wrapped tokens) have outperformed Bitcoin in the past 90 days. The index essentially reflects the degree of shift in market risk appetite from conservative to aggressive. Historically, when the index breaks through 75, it usually marks the official start of "altcoin season." For example, during the large-scale bull markets in early 2018 and 2021, the index repeatedly exceeded 80, driving explosive growth in projects such as Ethereum and Solana. The current reading of 37 indicates that the market is still in a "wait-and-see range." Experts point out that this value is not a predictive tool but a trend confirmation indicator. A seasoned crypto strategist stated, "An index below 50 means that funds are still highly concentrated in Bitcoin, and market sentiment is cautious. The real turning point often appears after the index consistently stays above 50." Historical data shows that in previous bull market cycles, the index often consolidated in the 40–60 range for months before accelerating upward. For investors, the current environment means that a strategy of simply chasing high-volatility altcoins may face a greater risk of retracement. In contrast, allocating to a portfolio dominated by Bitcoin, or focusing on large-cap projects with active on-chain activity and solid fundamentals, may be more in line with the current market rhythm. Market participants need to pay close attention to whether the index shows a mild upward trend for more than three consecutive weeks, which may be a leading signal of the next phase of rotation.