The cryptocurrency market is rife with speculation about an impending altseason as conflicting signals emerge. Recent rallies in altcoins like Hyperliquid (HYPE) and a modest Ethereum recovery have fueled hopes, but the widely followed Altcoin Season Index paints a cautious picture. According to data from Coinglass, the index currently sits at 36 on a scale of 1–100, where a reading above 75 signals an altcoin season. This low score indicates that only a minority of top-100 altcoins have outperformed Bitcoin over the past 90 days, while Bitcoin dominance recovered to 59.88% over the weekend, further dampening immediate expectations.
However, a new technical development has injected fresh optimism. For the first time in over five years, the Bitcoin Dominance chart has printed a death cross—a bearish signal formed when the 50-day moving average crosses below the 200-day moving average. Analysts highlighting this pattern argue it historically precedes a surge in altcoin prices. One prominent trader noted that the harder Bitcoin falls, the more powerful the subsequent altseason becomes, pointing to recent BTC price dumps from $73,900 to $67,200 that triggered $1.3 billion in liquidations as setting the stage.
Amid these mixed signals, attention is turning to specific altcoins. HYPE recently reached all-time highs, while NEAR and FET are among the tokens identified by traders as likely outperformers if the altseason materializes. Ethereum, historically the leader of altseasons, remains in laggard mode against Bitcoin, meaning its performance could be a key catalyst. For now, the market watches the tug-of-war between a subdued Altcoin Season Index and a macro dominance death cross, with many betting on a bullish resolution for altcoins.
