Glassnode Altcoin Cycle Signal shifts to 'altcoin season'

On September 21, Glassnode's Altcoin Cycle Signal transitioned into 'altcoin season,' indicating that altcoins are beginning to outperform Bitcoin. While Bitcoin reached $85,248 on September 21 and U.S. spot Bitcoin ETFs saw $999 million in inflows on Monday, the cumulative market capitalization of altcoins rose to $1.19 trillion by September 22. Glassnode notes that this signal compares a basket of 250 altcoins against Bitcoin, meaning an 'altcoin season' can occur even during market downturns if altcoins decline less than Bitcoin.