After a strong surge in late 2024, the so-called altcoin season — a period when cryptocurrencies other than Bitcoin (BTC) outperform — now appears to be losing momentum. As of late October 2025, the Altcoin Season Index tracked by CoinMarketCap stands at just 24/100, its lowest level in nearly ten months. This figure highlights Bitcoin’s growing dominance across the entire crypto market.

The Return of the “Bitcoin Season” and Investors’ Defensive Stance

Over the past 90 days, Bitcoin has outperformed most major altcoins, now commanding 59% of total crypto market capitalization, equivalent to more than $1.8 trillion. In contrast, the total altcoin market cap has dropped to around $1.63 trillion, well below its December 2024 peak of $2.4 trillion — when the Altcoin Season Index reached a record high of 87.

According to CoinMarketCap’s definition, an “altcoin season” only occurs when at least 75 out of the top 100 altcoins outperform Bitcoin within a given period. Currently, that number hovers around just 20 to 25. Apart from a few outliers such as MYX (+2462%), ASTER (+1214%), and MNT (+102%), most major altcoins have been on the decline — ADA, AVAX, NEAR, and DOGE have all fallen between 17% and 23% over the past three months.

This trend reflects a broader risk-off sentiment among investors, who are gravitating toward higher-liquidity assets after Bitcoin reclaimed its leadership role. Many traders remain cautious, waiting for clearer signals before re-entering smaller altcoins.

Ethereum – The Bright Spot Amid Market Consolidation

Despite weakness across the altcoin sector, Ethereum (ETH) stands out as a rare source of strength. On the monthly chart, ETH has broken out of a four-year accumulation zone and continues to hold above key support levels. According to analyst Ash Crypto, Ethereum’s price structure shows “long-term foundational strength,” as it remains above both its 200-day and 300-day moving averages — a classic indicator of sustained bullish momentum.

At the time of writing, ETH is trading around $3,943, up 1.7% for the week, with a market cap of $476 billion and daily trading volume near $27 billion. A breakout above the $4,000 resistance could trigger a new bullish wave for Ethereum and reignite confidence in the broader altcoin market.

Ethereum’s Relative Strength Index (RSI) currently sits in a neutral zone, suggesting that the market is neither overbought nor oversold — providing a healthy foundation for potential medium-term growth.

Divergent Performances Among Major Altcoins: BNB, Solana, XRP, and Cardano

Other leading altcoins are showing highly divergent trends:

BNB is trading around $1,115, up 1% this week, with a market cap of $155 billion.

Solana (SOL) has gained 4%, trading at $192, with a market cap of $105 billion and $5.1 billion in daily volume.

XRP continues to show relative strength, rising 8% to $2.56, with a market cap of $153 billion.

Cardano (ADA) has edged up slightly to $0.65, with a market cap of $23 billion, after several weeks of declines.

Although there are some short-term signs of recovery, overall performance still lags far behind Bitcoin. This reinforces the view that the altcoin season has yet to begin, and the market remains dominated by Bitcoin — the asset that continues to define investor sentiment and capital flow across the industry.

When Could the Next Altcoin Season Begin?

Historically, altcoin seasons tend to emerge after Bitcoin completes a major rally and enters a sideways consolidation phase. During that period, capital often rotates into higher-risk assets in search of greater returns. If Bitcoin can hold above the $100,000 level in the coming weeks, a potential “Altseason 2026” could take shape in early Q1 next year.

In such a scenario, Ethereum and Solana are likely to lead the charge, while ecosystem-driven coins such as XRP, BNB, and AVAX may offer short-term trading opportunities for active investors.

In summary:

The altcoin season isn’t truly over — it’s simply in hibernation beneath Bitcoin’s dominance. Ethereum’s resilience and the gradual re-accumulation of institutional liquidity are offering the first glimpses of optimism. Yet before a full-scale rotation into altcoins can occur, Bitcoin remains the benchmark, the compass guiding the entire digital asset market.