Altcoin Market Cap Surges Past $1 Trillion Amidst Waning Bitcoin Dominance

Crypto markets have seen a significant shift in favor of altcoins as Bitcoin's dominance stalls below 60%. The combined altcoin market cap has reached $1.19 trillion, its highest level since late January. This is according to Glassnode's Altcoin Cycle Signal, which measures the relative growth in market cap of the 250 largest altcoins excluding stablecoins compared to Bitcoin.

The signal delivered a new 'altcoin season' signal this week as it reached 81.25 on its normalized scale from 0-100. This indicates that altcoins are outperforming Bitcoin in combined market-cap growth, a phenomenon known as 'altseason'. The signal suggests that the current rally has ignited the full breadth of the altcoin market.

Bitcoin's dominance over the total crypto market cap currently sits at 59.7%, within a narrow range since August 19th. Matthew Hyland, a trader and commentator, described this as a state of 'complacency' among Bitcoin investors, suggesting that dominance had already set a macro high when it reached 66% in June 2025.