Altcoins Surge as Bitcoin Dominance Slips Below 60%

Crypto markets have entered an 'altseason' as Bitcoin's share of the market has slipped below 60%, according to Glassnode's Altcoin Cycle Signal.

The signal, which measures the combined market cap of the 250 largest cryptocurrencies (excluding stablecoins) against Bitcoin, stood at 81.25 on Monday - a condition commonly labeled 'altseason.'

This comes as altcoins have seen their total market capitalization increase by 33% since August 19, reaching $1.19 trillion on Tuesday - its highest reading since late January.