Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
Following
AVAX 
BTC 
ENA 
ETH 
HYPE 
ONDO 
UNI Bitcoin and Ethereum led the gains, and the altcoin market was in full swing
In the cryptocurrency market, the upward trend led by Bitcoin and Ethereum is gradually spreading to the altcoin sector. As Bitcoin prices broke through the $87,000 mark again in a few months, Ethereum also successfully reached the $2,800 mark. At the same time, mainstream altcoins such as HYPE, UNI, AVAX, ENA and ONDO showed strong upward momentum, further exacerbating market expectations for a shift in capital flows.
On-chain data analysis company Glassnode announced that its closely watched "Altcoin Cycle Signal" indicator shows that the market has officially transitioned from a "bitcoin-dominated season" to an "altcoin season."
Glassnode issues altcoin season signal
According to Glassnode's analysis, the current rising wave in the cryptocurrency market started by Bitcoin has expanded to a wider group of altcoins. The "Altcoin Cycle Signal" indicator released by the company clearly signals a shift from the Bitcoin season to the Altcoin season. This change shows that the flow of market funds is no longer just concentrated in Bitcoin, and altcoins have also begun to participate in the rising market with a stronger attitude.
Glassnode pointed out that the characteristics of this round of market conditions are different from previous rising cycles. As market activity increases, the performance of some cryptocurrencies is particularly prominent:
- Hyperliquid (HYPE): The intraday price hit US$96, setting a record high, and the market value exceeded the US$20 billion mark.
- Uniswap (UNI)：The increase was about 40%.
- Avalanche (AVAX): gained 47%.
- Ethena (ENA): The increase is about 50%.
- Ondo (ONDO): gained 26%.
This widespread rise in altcoins marks a significant increase in investor interest in non-bitcoin crypto assets.
Glassnode: The current market is different from the rebound in August
Glassnode emphasized that the current market dynamics are significantly different from the rebound that occurred in August this year. During the recovery phase in early August, despite the rise in Bitcoin prices, most altcoins performed relatively smoothly and moved sideways. In the recent wave of market conditions, the upward momentum triggered by Bitcoin has been successfully transmitted to the entire altcoin market.
This phenomenon is seen as a key signal that the rally has spread to a wider range of crypto asset classes and that the market's risk appetite is tilting towards altcoins. Glassnode's "Altcoin Cycle Signals" indicator tracks changes in the market cycle by comparing the performance of Bitcoin with the performance of its top altcoins by market capitalisation. This indicator signals a shift into the altcoin season, which means that the competitiveness of altcoins relative to Bitcoin has increased during the measurement period.
Glassnode said in its latest assessment: "The altcoin cycle signal has confirmed the transition from the Bitcoin phase to the altcoin phase." The company added that although the altcoin performed relatively solidly during the August rebound, the current upward trend has covered the entire altcoin market.
The key signal of the altcoin season has come
The expansion of the altcoin market has been eye-catching after Bitcoin exceeded $87,000 and Ethereum exceeded $2,800. Glassnode's "Altcoin Cycle Signals" indicator turned to the Altcoin season, becoming one of the important pieces of evidence supporting changes in capital flows.
Looking ahead, changes in Bitcoin's market share, Ethereum's performance and the persistence of funds flowing into altcoins will become key observation indicators for judging the seasonal strength of potential altcoins.
