Altcoin Season Signal Flips to Positive as Crypto Market Surges

The crypto market is showing signs of altcoin season, with the Altcoin Season index rising to 49 out of 100. This signal has been confirmed by Glassnode, which notes that the altcoin cycle signal has flipped from Bitcoin season to altcoin season.

Several altcoins have posted strong 90-day gains, including PONS, USELESS, ZEC, and NEAR. The spread of gains is important because it shows broader market participation, rather than a single token making a sharp move.

The latest rally has brought a wider segment of the altcoin market participating, according to Hans Dallass, who pointed to the seven-day altcoin cycle indicator. Historically, altcoins have outperformed BTC when this indicator reaches this range.