Altcoin Breadth Stays Below Season Threshold as Rally Cools

Altcoin market breadth has cooled from September’s strength, with three gauges showing readings below the 75-point level used to define a broad altcoin season.

A 90-day index covering 100 eligible altcoins stood at 59 on Oct. 10. A separate gauge read 51 the same day, below its 75-point altcoin-season threshold. A third index registered 66 on Oct. 8, with 33 of 50 tracked altcoins outperforming Bitcoin (BTC) over the previous 90 days.

The 100-altcoin index places readings of 25 or lower in Bitcoin-season territory. Its current reading remains above that level, but it has not reached the threshold for altcoin season.

The measures are not directly interchangeable. They track different asset groups, apply different exclusions and update on different schedules. Taken together, they show continued breadth across parts of the market without a uniform altcoin-season signal.

The late-third-quarter rally appears to have weakened as traders took profits and shifted capital toward Bitcoin and stablecoins. Ether (ETH), XRP and Solana (SOL) also declined during the period.

USDT dominance, which measures Tether’s USDT market capitalization as a share of the total crypto market, rose slightly during the week. A lower ratio can coincide with capital moving from stablecoins into risk assets, while a higher ratio can indicate that capital is being held in USDT or that the broader market is shrinking.

Joao Wedson said the September altcoin season had ended and that the Altcoin Season Index had peaked.

“Now is no longer an ideal time for altcoins, as the Altcoin Season Index has peaked,” Wedson said.

Aaron Disher offered a more constructive view of short-term breadth.

“I think the crypto fiesta can continue this weekend because smaller altcoins are already showing strength while Bitcoin consolidates,” Disher said.

The conflicting readings leave the market between the two main classifications: the 100-altcoin index remains above its Bitcoin-season threshold, while all three gauges remain below the 75-point level associated with altcoin season.