Back in September 2025, the Altcoin Season Index, which tracks the performance of the top 100 altcoins against the performance of Bitcoin, reached a new yearly peak. This rally has sparked positive market sentiment, with calls for altcoin prices to finally start rising. However, the tide has since turned, and hopes for another altcoin season have been dashed. Now, the index has collapsed back down, heading toward yearly lows.
Altcoin Season Index fell to 39 from 78
The Altcoin Season Index on CoinMarketCap fell to 29 points, representing a collapse of more than 50% from its September highs. At that time, the Altcoin Season Index rose to a score of 78, indicating that altcoins were in a bull market. However, the move was short-lived due to the market crash that followed, especially in October.
This indicator takes into account how the top 100 altcoins by market cap perform against the price of Bitcoin over a 90-day period and uses it to score the chart. The more altcoins outperform Bitcoin during this time frame, the higher the score on the index will be.
The score of 29 means that only 29 altcoins out of the top 100 altcoins saw better performance compared to the price of Bitcoin during this 90-day period. The likes of Binance-backed ASTER and ZCASH's ZEC top this list having seen an increase of over 900% during this time.
Interestingly, Ethereum price appears in the list of altcoins that are outperforming the market leader, coming in with a 5.18% increase for ETH compared to the 4.32% decline that Bitcoin has suffered at the time of writing.
What does this mean for altcoins?
The current score of 29 on the Altcoin Season Index represents the poor performance of altcoins over the past few months, particularly affected by the October 10 crash. However, this is not entirely bad news for the altcoin market, given the historical performance.
Looking back, an uptrend always starts when the indicator falls to low levels. Before the September 2025 rally, the Altcoin Season Index fell below 40 before bottoming out. Therefore, the current low result of the indicator, coupled with the decline in market sentiment to fear, could indicate that a bottom is near.
Featured image from Dall.E, chart from TradingView.com
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