Binance founder Changpeng “CZ” Zhao has pointed out that CoinMarketCap’s Altcoin Season Index is starting to climb, predicting that an altcoin rally might be imminent.
“Not sure how accurate it is, but it is ticking up. FOMO season soon…” Zhao posted on X, referencing the index that tracks whether altcoins are outperforming Bitcoin over a 90-day period.
A reading above 75 indicates an official “Altcoin Season,” where at least 75 of the top 100 altcoins outperform Bitcoin over the previous 90 days. Ethereum and other altcoins then pick up, fueled by narrative-driven speculation, new protocol launches, and increased developer activity.
The Altcoin Season Index, maintained by CoinMarketCap, currently sits at 51 out of 100, up from 38 last week and just 16 a month ago.
Current data supports that pattern. Ethereum is up 110% over the past 90 days, while meme coins like BONK (+148.7%) and FLOKI (+119.1%) have surged. Even lower-cap projects such as PENGU and M have posted gains exceeding 500%, according to CoinMarketCap’s 90-day performance chart.
In the 2021 altcoin season, for instance, top altcoins posted gains over 170%, compared to Bitcoin’s 2% during the same period.
The metric had peaked near 66% at the end of last month, according to TradingView. The drop in dominance coincides with a surge in total crypto market capitalization, which has jumped from $3 trillion to around $3.8 trillion over the past three weeks.
Bitcoin’s dominance in the crypto market has fallen sharply, dropping 5.8% in just one week to under 61%, its lowest point since March, and the steepest decline since June 2022.
