Glassnode Altcoin Cycle Signal Prints Altseason Reading of 81.25

Glassnode's Altcoin Cycle Signal has printed a new 'altseason' reading of 81.25, indicating a potential shift in market dynamics.

This signal is based on the ratio between the combined market cap of the 250 largest cryptocurrencies (excluding stablecoins) and Bitcoin's dominance in the market.

Bitcoin's dominance has stalled at around 59.7%, while the altcoin market cap has risen by 33% since August 19, reaching a high of $1.19 trillion on Tuesday.

This signals that more tokens are participating in the current rally, not just large-cap altcoins, according to Glassnode's analysis.