Markets· ★★★· neutral·

Glassnode altcoin season signal hits 86, but Bitcoin weakness drives much of the move

  • —Glassnode's Altcoin Cycle Signal reached 86 on June 22, above the 50 threshold
  • —Bitcoin's 18% drawdown accounted for much of the signal
  • —Total altcoin market cap rose about 21% month-over-month by September
  • —CoinMarketCap's Altcoin Season Index near 45, still in Bitcoin-dominance territory
Why it matters: Low open interest and diverging metrics suggest the altcoin rally lacks durable demand and could reverse if Bitcoin resumes its uptrend.
#BTC
Source: Crypto Briefing
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