The digital asset market is sending increasingly clear signals of an altcoin awakening. A key indicator — the Altcoin Season Index from CoinGlass — has settled at 58 points. This follows a sharp jump to 64 recorded on June 4. Although the current value is still far from the 75-point threshold traditionally considered the official start of "altcoin season," the trend is evident: capital is beginning to gradually flow from Bitcoin into a broader range of cryptocurrencies.
At the time of writing, the CoinGlass metric is noticeably above the neutral zone. However, these values are not yet sufficient to undermine the leadership of the first cryptocurrency. BTC dominance currently stands at around 57%, according to CoinGecko. For comparison, a similar index from CoinMarketCap shows a more restrained picture — 53 points. The difference between services is a common occurrence, as each uses its own parameters and asset selection criteria.
BTC dominance retreats: capital moves into alts
The rise in the index coincided with a change in market structure. According to CryptoRank, Bitcoin's share fell from 58.12% to approximately 54% in early July, although it has now slightly recovered to 56.3%. Over the same period, the share of altcoins (excluding Bitcoin, Ethereum, and stablecoins) grew from 19.39% to 24.68%. This is a significant shift, indicating a selective but confident rotation of capital.
Traders are increasingly discussing that a breakout of key support levels for BTC dominance could kick off a full-fledged altcoin season. However, not all signals are clear-cut. At the end of June, Glassnode analysts noted the return of the altcoin season signal but warned that the main driver of the dynamics was not the real superiority of alts, but a sharp drop in Bitcoin.
My expert opinion: The market is showing a classic accumulation phase ahead of a potential altcoin rally. Institutional investors are already voting with their capital: fresh inflows into ETFs based on Ether, Solana, and XRP are strengthening amid outflows from Bitcoin funds. However, to confirm a sustainable trend, the CoinGlass index needs to surpass the 75 mark, and BTC dominance must continue to decline through the end of July. For now, this is merely groundwork, but the direction is set correctly.