An analyst says the altcoin season we saw in September has ended.
According to the assessment, current conditions no longer favor altcoins, as the Altcoin Season Index has peaked.
The analyst Joao Wedson, who is also the founder of crypto analytical platform Alphractal, took to X to share the following:
“The altcoin season we experienced in September is already over! Now is no longer an ideal time for altcoins, as the Altcoin Season Index has peaked. Historically, after such peaks, some liquidity tends to rotate back into Bitcoin and stablecoins.”
Historical patterns indicate that after such peaks, some market liquidity typically shifts back toward Bitcoin and stablecoins.
This rotation helps explain the steeper price drops in many altcoins compared with Bitcoin amid the recent broader market downturn.
“This (the new development) helps explain why several altcoins have experienced sharper declines than BTC during the recent market downturn,” the analyst added.
A follow-up chart of the Altcoin Season Index shared by the analyst further supports the assessment that the September altcoin season has ended.
The chart tracks the percentage of leading altcoins outperforming Bitcoin against Bitcoin’s own price over several years. Periods when the index enters the upper red zone signal altcoin season, while drops into the lower green zone indicate Bitcoin season.
Data on the right side of the chart show a clear spike into altcoin-season territory during September, followed by a subsequent pullback. This pattern aligns with historical cycles in which index peaks have often preceded a rotation of liquidity back toward Bitcoin.
The visual evidence helps explain the sharper recent declines in many altcoins relative to Bitcoin, reinforcing the view that market conditions now favor Bitcoin over alternative cryptocurrencies.
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