- Glassnode’s Altcoin Cycle Signal reached 81.25 as the latest rally spread across the broader altcoin market.
- Bitcoin dominance sits near 57.2%, below its one-month level
- SOL gained about 4.6% against BTC over seven days, while ETH/BTC and XRP/BTC posted much smaller gains.
Glassnode says its Altcoin Cycle Signal has switched from Bitcoin season to altcoin season as the latest crypto rally broadens.
The firm’s September 22 update says August’s initial rally left altcoins relatively flat while Bitcoin advanced. The latest move has instead spread across a wider section of the altcoin market.
Glassnode’s signal reached 81.25 out of 100. The metric compares the market-cap growth of 250 large altcoins, excluding stablecoins, against Bitcoin.
However, market-share data show that the rotation from Bitcoin is more uneven than the signal alone suggests.
Glassnode’s Earlier Data Showed No Altcoin Rotation
Notably, the new reading differs from Glassnode’s Week 36 assessment published on September 9.
At that point, altcoin market capitalization had climbed 21% over one month. Yet altcoins had not gained comparable market share against Bitcoin.
Glassnode measured the 90-day change in Altcoin Share at negative 0.9 percentage points. It said altcoins were gaining in dollar terms while Bitcoin maintained its relative position.
The report compared that structure with earlier Bitcoin market peaks. At three of four previous peaks studied, altcoin share increased by at least 2.8 percentage points over 90 days.
That broader rotation had not appeared in the Week 36 data.
Bitcoin Dominance Has Eased Only Modestly
Current dominance data show some movement toward altcoins, although Bitcoin still holds a large market share.
Market data places Bitcoin dominance at about 57.22% on September 22. That compares with 57.65% one month earlier, a decline of about 0.43 percentage points.
Yet the shorter comparison moves the other way. Bitcoin dominance stood at 56.78% seven days earlier, below today’s level.
Bitcoin’s current share also exceeds the 56.05% recorded three months ago. The figures therefore show a small one-month loss of Bitcoin share rather than a sustained decline across every timeframe.
Altcoin Market Share Has Expanded
Non-stablecoin altcoins have increased their share of the total crypto market. Market data places Ethereum dominance at 11.14% and other cryptocurrencies at 22.05%. Combined, those groups account for about 33.19% of total market capitalization.
One month earlier, their combined share stood around 31.55%. That represents an increase of roughly 1.64 percentage points.
However, stablecoin dominance fell from 10.8% one month ago to 9.59% today. Over three months, stablecoin share dropped even more sharply, to 13.05%.
Part of the altcoin market-share increase therefore coincides with capital moving out of stablecoin market capitalization, rather than only Bitcoin losing share.
Top-100 Breadth Shows a Wider Rally
Daily market breadth supports Glassnode’s description of a broader move. Recent data showed 71 of the top 100 cryptocurrencies rising over 24 hours. Bitcoin was also higher during the same period.
A separate breadth measure shows stronger short-term performance than longer-term performance.
The Altcoin Season Index tracked by AltcoinSeasonTracker stood at 80 over seven days and 70 over 30 days. Its 90-day reading was lower at 55.
Those readings show that relative altcoin strength has developed more strongly in recent weeks than across the full three-month window.
SOL Leads the Major Alt/BTC Pairs
Meanwhile, major altcoin-to-Bitcoin pairs also show an uneven rotation. Binance spot data show SOL/BTC gaining about 4.63% over seven days, moving from roughly 0.001297 BTC to 0.001357 BTC.
ETH/BTC increased only about 0.19% during the same seven-day window. XRP/BTC gained about 0.11%.
That means Solana has gained clear relative ground against Bitcoin during the latest move. Ethereum and XRP have changed much less against BTC.
Glassnode’s latest signal therefore coincides with wider daily breadth and higher non-stablecoin altcoin market share. Bitcoin dominance has declined modestly over one month, but it still sits above its seven-day and three-month readings.
Related: Bitcoin Price Prediction for Q4 2026 by ChatGPT, Claude, Grok, and Gemini
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