Bitcoin dominance falls to 59.7% amid broad altcoin rally
Glassnode’s Altcoin Cycle Signal reached 81.25 on Monday, triggering an “altcoin season” signal after a month of combined Bitcoin and altcoin market-cap gains. The metric, which compares the market cap of 250 largest cryptocurrencies relative to Bitcoin excluding stablecoins, delivers such signals when relative growth in altcoins temporarily outpaces Bitcoin’s.
The signal marks a shift in market breadth. Altcoins have increased 33% since August 19, when US Treasury bond market intervention sparked a flash rally. Combined altcoin market cap reached $1.19 trillion on Tuesday, the highest level since late January. Bitcoin dominance, meanwhile, fell to 59.7%, failing to break above the 60% threshold and retreating from a June 2025 peak of 66%.
Glassnode noted the difference between recent rallies in a statement: “The first rally in August saw altcoins stay relatively flat while BTC moved. However, today’s rally has ignited the full breadth of the altcoin market.”
Bitcoin itself traded near $86,000 this week. The crypto industry’s total market cap reclaimed $3 trillion following the latest gains.
ETF inflows reach highest levels since October 2025
Spot Bitcoin and Ether ETF inflows surged on Monday, marking the highest daily combined flows since October 2025. US spot Bitcoin ETF inflows totaled $999 million, while Ether ETF inflows reached $270 million. Bitcoin ETF investors’ aggregate cost basis sat just below $86,000 at the end of last week, according to data reviewed.
Trader and commentator Matthew Hyland argued that Bitcoin investors had displayed “complacency” and unwillingness to accept Bitcoin’s lack of progress against altcoins since June 2025, when Bitcoin dominance peaked at 66%.
Altseason refers to periods when altcoins outperform Bitcoin in combined market-cap growth. The current signal follows a month in which both Bitcoin and altcoins posted substantial gains, with the latter accelerating more sharply after the August 19 Treasury intervention announcement.
