Altcoin Season Gains Momentum as Glassnode's Cycle Signal Flips

The cryptocurrency market has shifted towards altcoin season as Glassnode's Altcoin Cycle Signal has flipped from Bitcoin season to altcoin season. According to Cointelegraph, the latest rally has produced broader participation across the altcoin market, marking a different pattern from the first leg of the advance in August when altcoins remained relatively subdued while Bitcoin gained.

Glassnode's Altcoin Cycle Signal is designed to measure whether market performance favors Bitcoin or a basket of altcoins. The indicator uses price data from the top 250 altcoins by market capitalization, excluding stablecoins. It shows whether Bitcoin is outperforming the broader altcoin basket or whether that relationship has reversed.

The signal change comes as cryptocurrency prices have risen broadly during the latest market move. As of the Cointelegraph X post carrying the Glassnode observation, Bitcoin was trading around $85,668.