Glassnode said on X that the market signal for the altcoin cycle has moved away from Bitcoin-led action and into altseason. The firm pointed to a contrast between two recent phases of the market. During the first leg of gains in August, altcoins stayed relatively muted even as Bitcoin’s price moved around. In the latest rally, by contrast, the broader altcoin market has risen alongside the move. The post frames that change in participation as a sign that the cycle signal is no longer centered on Bitcoin dominance, but on a wider advance across altcoins.
Glassnode said in a post on X that the signal for the altcoin cycle has shifted from Bitcoin-led market action to altseason.
According to the post, during the first round of gains in August, altcoins were relatively subdued even though Bitcoin’s price was volatile. In today’s rally, the broader altcoin market has moved higher as well.
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