Altcoin Season Index: How It Works and How to Read It

The Altcoin Season Index is a cryptocurrency market indicator that measures how many alternative cryptocurrencies outperform Bitcoin over a defined period. CoinMarketCap's version compares the 90-day price performance of the top 100 eligible cryptocurrencies, excluding Bitcoin itself, stablecoins, and certain asset-backed or wrapped tokens.

A reading of 75 or higher indicates altcoin season, meaning at least 75% of the eligible cryptocurrencies have outperformed Bitcoin over the previous 90 days. A reading of 25 or lower indicates Bitcoin season. Values between these thresholds describe market conditions that satisfy neither definition.

The index helps investors understand whether cryptocurrency market momentum is concentrated in Bitcoin or spreading across alternative digital assets. The live CoinMarketCap Altcoin Season Index publishes the latest reading, historical values, and performance comparisons. Because it measures relative performance across a basket rather than absolute gains, it is most useful as a market-breadth tool alongside other indicators.

At a Glance

• The Altcoin Season Index measures how many eligible altcoins outperform Bitcoin over 90 days.
• CoinMarketCap uses the top 100 ranked eligible cryptocurrencies in its calculation.
• A reading of 75 or higher confirms altcoin season under CoinMarketCap's definition.
• A reading of 25 or lower indicates Bitcoin season.
• Bitcoin dominance, Ethereum performance, trading volume, and market capitalization provide additional context.
• The index measures historical relative performance rather than predicting future cryptocurrency prices.
• Investors should combine the index with other market indicators and risk-management strategies.

How the CoinMarketCap Altcoin Season Index Works

The CoinMarketCap Altcoin Season Index compares the 90-day price returns of eligible cryptocurrencies against Bitcoin, then calculates the percentage of tracked cryptocurrencies that have outperformed BTC. The resulting score ranges from 1 to 100 and is updated daily.

According to CoinMarketCap's official methodology, the calculation uses the top 100 ranked coins while excluding stablecoins and certain asset-backed or wrapped tokens.

The 90-Day Performance Calculation

The index relies on a relative-performance comparison. Suppose an eligible cryptocurrency gains 30% over 90 days while Bitcoin gains 20% during the same period; the altcoin has outperformed Bitcoin by 10 percentage points. Conversely, if another cryptocurrency gains only 12% while Bitcoin gains 20%, it has underperformed the benchmark.

The index counts the number of eligible altcoins that beat Bitcoin and converts that figure into a percentage. In simplified form:

Altcoin Season Index = (Altcoins outperforming BTC ÷ Eligible altcoins) × 100

If 75 out of 100 eligible cryptocurrencies outperform Bitcoin, for example, the index reads 75, indicating altcoin season. Each eligible cryptocurrency contributes to the breadth calculation based on whether it outperformed Bitcoin; the index does not represent the average size of those outperformance gains. As a result, a high reading shows that outperformance is widespread within the tracked group, but it does not by itself show that every outperforming asset produced similar returns.

Which Cryptocurrencies Are Included?

CoinMarketCap selects the top 100 ranked cryptocurrencies at the end of each day, excluding assets that would distort the comparison. These exclusions include:

• Stablecoins such as Tether (USDT) and Dai (DAI).
• Asset-backed or wrapped tokens such as Wrapped Bitcoin (WBTC).
• Certain derivative or wrapped representations of other assets.

Ethereum is included in the altcoin group under CoinMarketCap's methodology. The distinction matters because the index is intended to measure the performance of alternative cryptocurrencies against Bitcoin, rather than include assets designed to maintain a stable value or mirror another cryptocurrency.

What Altcoin Season Index Readings Mean

Index readings show the percentage of eligible altcoins outperforming Bitcoin over the previous 90 days. The main interpretation zones are:

These zones are illustrative, based on CoinMarketCap's published thresholds, not a live market reading.

Bitcoin Season: 0–25

Bitcoin season occurs when 25% or fewer eligible altcoins outperform Bitcoin over the 90-day measurement period, suggesting that Bitcoin has stronger relative performance across the tracked cryptocurrency market. A Bitcoin season reading does not necessarily mean every altcoin is declining. Some alternative cryptocurrencies can still record gains while underperforming Bitcoin.

Neutral or Transition Zone: 26–74

The transition zone represents mixed cryptocurrency market performance: some altcoins outperform Bitcoin while others lag behind. A reading of 65, for example, means approximately 65% of the eligible cryptocurrencies have outperformed Bitcoin over the measurement period—relatively broad altcoin strength that still falls short of CoinMarketCap's 75% threshold for altcoin season.

The original September 2024 article reported a reading of 65. That figure should be treated strictly as a historical snapshot, not as a current index value. A rising transition-zone reading may indicate improving altcoin market breadth, while a falling reading can suggest that Bitcoin is regaining relative strength.

Altcoin Season: 75–100

Altcoin season begins when at least 75% of eligible altcoins outperform Bitcoin over 90 days, indicating broader market participation beyond Bitcoin. During these periods, several cryptocurrency sectors may experience increased attention, including:

• Ethereum ecosystem tokens.
• Layer-1 and Layer-2 projects.
• Decentralized finance (DeFi) tokens.
• Artificial intelligence-related cryptocurrencies.
• Gaming and metaverse tokens.
• Meme coins and community-driven assets.
• Real-world asset (RWA) tokens.

An index reading of 75 does not guarantee that all altcoins will rise or that the market will remain strong. A score closer to 100 represents even broader relative outperformance, but it is not a separate official requirement for altcoin season.

Is Altcoin Season Happening Right Now?

The most reliable way to determine whether altcoin season is underway is to check the latest reading on the official CoinMarketCap Altcoin Season Index. The index changes as cryptocurrency prices and relative performance evolve, and a historical reading should never be presented as today's market condition.

As of November 4, 2026, this article does not assign a numerical live reading because the dynamic index value has not been independently captured for publication. Readers should verify the value directly from the live tracker before making a market assessment.

When reviewing the index, consider three things:

• Current reading: Is it approaching or exceeding 75?
• Direction: Is the score rising or falling over recent days and weeks?
• Market confirmation: Are Bitcoin dominance, trading volume, and altcoin market capitalization supporting the same trend?

A single index reading is not enough to establish a sustainable market cycle. Watching whether a reading remains elevated, rather than relying only on one threshold crossing, provides additional context while still recognizing that the index remains a historical measure.

Key Indicators That Complement the Index

The Altcoin Season Index is useful, but investors should examine other cryptocurrency market indicators before drawing conclusions. Important areas include Bitcoin dominance, Ethereum's relative performance, overall altcoin market activity, and exchange flows.

Bitcoin Dominance

Bitcoin dominance measures Bitcoin's share of total cryptocurrency market capitalization. It is commonly calculated as:

BTC Dominance = (Bitcoin Market Cap ÷ Total Crypto Market Cap) × 100

A declining dominance reading can indicate that alternative cryptocurrencies are gaining market share. If Bitcoin's market capitalization remains relatively stable while altcoin market capitalization increases, for example, Bitcoin's dominance may decrease—a development that can support an altcoin-season thesis, particularly when the Altcoin Season Index is also rising.

Declining dominance does not automatically mean altcoins are posting positive returns. Bitcoin's dominance can fall even when the broader market is declining, provided altcoins lose value more slowly. Investors can monitor CoinMarketCap's Bitcoin Dominance chart and TradingView's cryptocurrency dominance tools.

Ethereum and the ETH/BTC Ratio

Ethereum is an important asset to monitor when evaluating broader cryptocurrency market strength. The ETH/BTC ratio compares the price of Ethereum with Bitcoin. When ETH/BTC rises, Ethereum is outperforming Bitcoin over the selected period, which can indicate improving relative strength in the altcoin market.

Ethereum also plays a major role in decentralized finance, smart contracts, NFTs, and other blockchain applications. Its performance alone cannot confirm altcoin season because the index evaluates a broad group of cryptocurrencies.

Altcoin Trading Volume and Market Capitalization

Trading volume and market capitalization provide additional information about market activity. Higher volume can indicate increased market participation, although it does not necessarily mean prices will continue rising. Altcoin market capitalization measures the combined value of eligible alternative cryptocurrencies. Monitoring both metrics helps investors determine whether market growth is broad-based or concentrated in a small number of assets.

Exchange Inflows and Outflows

Exchange flows measure cryptocurrency moving into or out of exchange wallets:

• Exchange inflows: cryptocurrency deposited into exchanges.
• Exchange outflows: cryptocurrency withdrawn from exchanges.
• Exchange netflows: the difference between inflows and outflows.

A sustained increase in exchange outflows may indicate that investors are moving assets into personal wallets or other custody arrangements. This activity does not always represent long-term accumulation; transfers can also involve staking, custody changes, internal exchange movements, or other operational activities. CryptoQuant provides exchange inflow and outflow metrics that can help investors evaluate these movements.

Exchange-flow data should be combined with price trends, trading volume, and broader market conditions rather than treated as an automatic bullish signal.

Tools for Tracking the Altcoin Season Index

Several cryptocurrency platforms can help investors monitor market conditions and identify potential changes in altcoin performance.

CoinMarketCap

CoinMarketCap provides the official Altcoin Season Index along with cryptocurrency rankings, market capitalization data, historical readings, and other market indicators. Users can check the latest index reading, review historical performance, compare eligible altcoins with Bitcoin, monitor Bitcoin dominance, and explore market capitalization trends.

CryptoQuant

CryptoQuant offers on-chain analytics, exchange-flow data, and cryptocurrency market indicators. Its tools can help users examine exchange inflows and outflows, exchange reserves, whale-related transactions, network activity, and market participation trends.

Binance Market Data

Binance provides cryptocurrency trading data, including price movements, trading volume, and market activity. Its market data can help investors compare individual altcoin performance and identify changes in trading activity.

CryptoRank

CryptoRank offers market analytics, cryptocurrency rankings, and index-related charts, including Altcoin Index charts that complement CoinMarketCap data with another perspective on market-wide altcoin performance.

Investors should check the calculation method before comparing different platforms because index providers may use different coin universes and historical data methodologies. Their readings should not be treated as directly interchangeable.

How to Use the Altcoin Season Index in Market Analysis

The Altcoin Season Index can help investors understand market leadership and relative cryptocurrency performance. A practical approach combines its reading with other indicators rather than making decisions based on one threshold:

1. Check the current index reading and determine whether the score falls in Bitcoin season, the transition zone, or altcoin season.
2. Review the index trend by comparing the latest reading with previous daily and weekly values.
3. Examine Bitcoin dominance, looking for confirmation rather than assuming every decline signals an altcoin rally.
4. Evaluate Ethereum's relative strength through the ETH/BTC ratio.
5. Check trading volume and market capitalization across multiple altcoin sectors rather than isolated gains in individual tokens.
6. Assess individual cryptocurrency fundamentals, including project development, token supply, liquidity, adoption, and potential risks.

This process provides a more comprehensive picture of the market than relying on the Altcoin Season Index alone.

Risks and Limitations of Altcoin Season Indicators

The Altcoin Season Index is a useful market-breadth indicator, but it has limitations:

1. Historical performance does not predict future returns. The index measures how cryptocurrencies performed over the previous 90 days.
2. Market conditions can change quickly. A rising index can reverse when Bitcoin gains strength or when altcoin prices experience widespread corrections.
3. Individual altcoins have different risk profiles. Inclusion does not establish a cryptocurrency's long-term value, adoption, or investment quality.
4. Market capitalization does not guarantee liquidity. Some assets may have relatively high reported market capitalizations but limited trading depth.
5. Exchange-flow data can be misleading. Large transfers do not always represent buying or selling intentions.
6. Different indexes may produce different results. Other trackers may use different baskets or exclusion rules.

Investors should conduct independent research and consider their risk tolerance. Altcoin markets can involve substantial volatility, rapid reversals, and liquidity challenges.

Frequently Asked Questions

1. What is the Altcoin Season Index?

It measures the percentage of eligible cryptocurrencies that outperform Bitcoin over a rolling 90-day period. CoinMarketCap considers 75 or higher to represent altcoin season and 25 or lower to indicate Bitcoin season.

2. How does CoinMarketCap calculate it?

CoinMarketCap compares the 90-day performance of its top 100 eligible cryptocurrencies against Bitcoin, excluding stablecoins and certain asset-backed or wrapped tokens.

3. What does a reading of 65 mean?

Approximately 65% of eligible cryptocurrencies have outperformed Bitcoin over the previous 90 days. It indicates relatively strong altcoin performance but does not meet the 75 threshold.

4. What index level confirms altcoin season?

A reading of 75 or higher confirms altcoin season under CoinMarketCap's methodology.

5. What is Bitcoin season?

Bitcoin season occurs when 25% or fewer eligible altcoins outperform Bitcoin over 90 days.

6. Is altcoin season happening right now?

Check the latest CoinMarketCap Altcoin Season Index. A reading of 75 or higher meets its definition of altcoin season.

7. How does Bitcoin dominance affect altcoin season?

Declining dominance can indicate that altcoins are gaining market share, although it does not independently confirm an altcoin rally.

8. Why is the ETH/BTC ratio important?

An increasing ETH/BTC ratio indicates that Ethereum is outperforming Bitcoin over the selected period, potentially signaling stronger relative performance outside Bitcoin.

9. What tools can track altcoin season?

CoinMarketCap provides its official index. CryptoQuant, Binance, TradingView, and CryptoRank provide additional on-chain, trading, charting, and performance data.

10. Do exchange outflows indicate an upcoming altcoin rally?

Not necessarily. Outflows can reflect custody changes, staking, internal transfers, or other activities and should be evaluated alongside additional indicators.

11. How long does altcoin season usually last?

There is no fixed duration. The index measures a rolling 90-day period, not the duration of an entire market cycle.

12. Can the index predict cryptocurrency prices?

No. It is a historical relative-performance indicator, not a predictive model, and it cannot reliably forecast future prices or guarantee investment returns.

Final Thoughts

The Altcoin Season Index is a tool for understanding whether alternative cryptocurrencies are outperforming Bitcoin. By measuring the percentage of eligible altcoins that deliver stronger 90-day returns, it provides a practical way to assess broader market breadth. CoinMarketCap's threshold of 75 or higher identifies altcoin season, while readings of 25 or lower indicate Bitcoin season; values between these levels represent mixed market conditions.

The index should not be used in isolation. Bitcoin dominance, Ethereum's relative performance, trading volume, market capitalization, and exchange-flow data provide additional context when evaluating cryptocurrency market cycles. Historical outperformance does not guarantee future gains, and individual altcoins carry different levels of volatility, liquidity, and project risk.

By combining the Altcoin Season Index with reliable market data and independent research, investors can better understand cryptocurrency market rotation and make more informed decisions.

This article was written by Ethan Blackburn and first appeared on Cryptsy.