Altcoin Season Alert: Glassnode Signals Altcoins Outpace Bitcoin

Glassnode’s Altcoin Cycle Signal rose to 81.25 on a 0–100 scale, triggering a new “altcoin season” alert as Bitcoin’s share of the crypto market stayed below 60%. The combined market capitalization of the top 250 non-stablecoin tokens reached about $1.19 trillion while Bitcoin dominance remained near 59.7%.

The indicator compares the market cap of the 250 largest altcoins against Bitcoin and flipped to favor altcoins after the latest rally. Glassnode wrote on social media that the first rally in August left altcoins relatively flat while Bitcoin moved, but the recent rally “ignited the full breadth of the altcoin market.”

Bitcoin traded near $86,000 during the session. Ether was around $2,745, XRP near $1.53, Solana about $117 and Binance Coin ticked up roughly 1.6%. Dogecoin gained about 11% over 24 hours. The total crypto market capitalization briefly exceeded $3 trillion and was just under that level at the time of reporting, up about 4.3% on the day.

Derivatives metrics showed increased activity. Open interest in perpetual futures climbed to nearly $160 billion, the highest level since late October 2025. More than $920 million of short positions were liquidated on Monday.

Institutional and retail flows strengthened on Monday. U.S. spot Bitcoin ETFs recorded nearly $1 billion in inflows, the largest single-day intake since October 2025, while Ether ETFs took in about $270 million, according to data compiled by Farside Investors. The aggregate cost basis for Bitcoin ETF holders was just below $86,000 at the end of last week.

Smaller-cap tokens recorded sharp moves. Akedo’s AKE token rose about 170% over seven days to a market cap near $1.2 billion, then dropped more than 60% from its peak. Trading volume in AKE was roughly $108.9 million over 24 hours.

Trader Matthew Hyland described Bitcoin investors as “complacent” and suggested that BTC dominance likely reached a macro high of 66% in June 2025, after which investor interest shifted toward altcoins.

Glassnode does not publish the full calculation behind the Altcoin Cycle Signal. The indicator issues alerts when the short-term relative market-cap growth of the top 250 altcoins exceeds Bitcoin’s. Historical periods labelled “altseason” have coincided with broad gains in smaller-cap tokens, but past patterns do not guarantee future results.