No altcoin season? Global interest falls as market signals turn weak

The long-anticipated altcoin season does not seem to be edging closer as previously positive market signals flip bearish. 

Summary

Global Google search interest for “altcoins” fell sharply to a score of 15, down from 100 earlier this month.

The Altcoin Season Index has dropped to 41, significantly below the 75 threshold needed to signal a confirmed breakout.

Global search interest in altcoins has declined sharply over the past few weeks. According to Google Trends data on Aug. 20, worldwide search interest for the term “altcoins” sits at a score of 15, down from a peak of 100 earlier this month. 

At the time, searches surged after several months of muted activity, marking an all-time high and fueling expectations that strong momentum was returning to the sector. 

Several altcoins also posted gains during that period, joining a brief market rally that saw Bitcoin btc-1.54%Bitcoin reach new highs above $124,000 and Ethereum eth-2.15%Ethereum climb past $4,700. The latest plummet now reverses the score to their July lows, signaling that momentum is once again cooling and dampening expectations for the long-awaited altcoin season

eth-2.15%Ethereumsol0.06%Solanabnb-1.45%BNBbtc-1.54%Bitcoinxrp-3.9%XRP