Altcoin Season “3.0” Calls Return—But Is the Altcoin Season Index Too Low?

Key Insights:

• Altcoin season chatter is heating up, but the Altcoin Season Index is near 31.
• OTHERS/BTC MACD and wedge setups are hints for altcoin outperformance.
• Cycle timing charts flag 2026, but confirmation requires a wider rotation.

Altcoin season stories are reemerging as traders debate whether the next rotation cycle is for 2026. Several charts pointed out familiar “altseason” patterns in altcoin market cap and altcoin to Bitcoin ratios. Still, the Altcoin Season Index is relatively low, indicating that the market is not yet in a full altcoin-led phase.

Altcoin Market Cap Charts Revive “Altseason 3.0” Hopes

Analyst JackTheRippler shared a long-term altcoin market cap chart showing previous cycle expansions, which are labeled “altseason 1.0” and “altseason 2.0.” The visual implies past altcoin surges delivered huge percentage gains, and it is drawing the current structure as a possible build for an “altseason 3.0” move.

AltcoinMarketCap Chart | Source: JackTheRippler, X

The key technical concept is that altcoins have bounced several times off a rising base trendline. Each rebound was associated with general risk-on and heavy capital rotation away from Bitcoin. The chart suggests that the market may be about to reach another inflection point, particularly if regulatory clarity is improved.

However, the projection is aspirational as opposed to confirmed. The move still requires sustained inflows and a change of relative performance. Without that rotation, the market cap can be range-bound even if the trendline is holding.

Charts Point to a Recurring Window of Rotation

Notably, Whale Crypto Gems introduced a time frame based on the total market cap of altcoins. The chart identified significant cycle points in November 2013, December 2017, and January 2021 before identifying February 2026 as a new pivot. It also shows huge time intervals between peaks, suggesting that altcoins might have cycles that are long.

This type of framing reinforced the notion that macro timing is as important as chart patterns. Altcoin season historically tends to thrive as liquidity loosens and speculative appetite grows. In an environment like that, capital tends to have a very short path from Bitcoin into names with higher beta.

Shib Spain shared another ratio opinion, focused on the total market cap, excluding the top 10, compared to Bitcoin. The chart has previous altseasons in 2018 and 2021 and points to 2026 as the next potential ignition point. It also shows a “golden cross” signal on or close to the current region, which tends to attract trend following flows.

Even so, the timing models are sometimes early. They work best when used in conjunction with confirmation indicators and not as isolated signals.

Technical Signals Point to Altcoin Outperformance

A separate chart posted by elcryptoprof highlighted OTHERS/BTC on the monthly timeframe. The post states that the monthly MACD has crossed bullish, and points out that a similar signal was seen in 2020 before the performance of altcoins and “Altcoinseason” rose in 2021. The chart also shows a falling wedge, which is often considered a possible reversal pattern.

The implication is simple: if OTHERS/BTC is bottoming, altcoins could start outperforming Bitcoin again. That relative outperformance is usually the mechanical centerpiece of an altcoin’s season narrative. It is not about altcoins rising alone, but about outperforming BTC broadly.

However, structure can stay constructive with price chops going on for months. Falling wedges can also break if Bitcoin dominance regains strength. For that reason, traders still frequently wait for a definitive breakout and retest before declaring a new regime.

Altcoin Season Index Muted

However, there is a reality check from the Altcoin Season Index. The CoinMarketCap Altcoin Season Index is around 31, which is still more aligned with a Bitcoin-led regime than with complete altcoin dominance. The historical values shown also show recent readings between the low and mid 30.

Typically, a high Altcoin Season Index indicates that most top altcoins have performed better than Bitcoin in the last 90 days. Reading indicates that Bitcoin is still in the lead, and the market could be experiencing isolated wins, not a real altcoin season.

This is important because real altseasons are generally wide. They appear when the liquidity spreads out across large caps, mid caps, and speculative tails simultaneously. Until the Altcoin Season Index picks up substantially, the current environment is closer to a rotation watchlist than a confirmed phase.

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