Altcoin season index sits at 32: ‘Still in the gutter,’ believes expert

ambcryptoPublished on 2026-04-07Last updated on 2026-04-07

Abstract

In a recent analysis, CoinGecko highlighted that the altcoin market remains in a prolonged slump, with the Altcoin Season Index at 32, indicating continued Bitcoin dominance. Historically, capital rotated from Bitcoin to Ethereum and then to altcoins after Bitcoin reached a new all-time high (ATH). However, this cycle has diverged due to the influence of Bitcoin ETFs approved in 2024, which have concentrated institutional investment in Bitcoin rather than spreading to altcoins. Despite Bitcoin hitting an ATH of $126,000 in October 2025, altcoins have underperformed. Some in the crypto community anticipate an altseason, but key indicators suggest otherwise. Bitcoin's dominance remains strong, and altcoins like Dogecoin, Solana, and Cardano have not trended positively. Santiment’s Weighted Sentiment analysis shows Bitcoin as the only cryptocurrency with positive sentiment, while altcoins linger in negative territory. Additionally, the RSI for most tokens, including Bitcoin, is below the neutral 50-level, reflecting bearish market conditions. On-chain data remains pessimistic, contradicting optimistic analyst predictions for an imminent altseason.

In a recent YouTube stream, data aggregator CoinGecko noted that altcoins have remained in a slump for a sustained period of time.

The platform also analyzed previous cycles, highlighting a recurring pattern—capital always rotates from Bitcoin into Ethereum and then into other altcoins once Bitcoin hits a new all-time high (ATH).

Bitcoin’s all-time high of $126,000 has come and gone, but altcoins are still in the gutter.

AD

However, the current market isn’t following past patterns. Bitcoin reached its ATH of $126,000 back in October 2025, yet altcoins have still failed to outperform.

This change in pattern is notably because of the approval of exchange-traded funds (ETFs) and other related products approved in 2024. For perspective, in the new cycle, money is coming in, but mostly from institutions via ETFs, and “tends to stay concentrated in Bitcoin.”

So, with the biggest concentration lying in the hands of Spot Bitcoin ETFs, the altseason does appear like a far-fetched dream.

CoinGecko brought up this discrepancy, noting,

It doesn’t trickle down into smaller tokens the way retail flows used to.

The weight of the situation

The CoinMarketCap Altcoin Index, sitting at 32 at the time of reporting, further suggests that the Bitcoin season is still in action.

However, others in the crypto community still believe that the altcoin season is “just around the corner.”

If the altcoin season is actually about to happen, then Bitcoin dominance needs to weaken. Moreover, the top 10 altcoins trending in 90 days should include big names like Dogecoin, Solana, and Cardano.

This was further confirmed by Santiment’s Weighted Sentiment analysis. The chart clearly shows that Bitcoin is the only token with positive Weighted Sentiment, whereas other altcoins are below the 50-level mark in the negative zone.

But the RSI of all the tokens, including Bitcoin, lying below the 50-level mark, aka the neutral level, suggests that the overall market sentiment is in the sellers’ hands.

This was further confirmed by AMBCrypto’s recent analysis, which also suggests that analysts are in favor of an altseason, but the on-chain data looks pessimistic.

Final Summary

CoinGecko believes that altcoins are in the “gutter” after Bitcoin hit an ATH back in October 2025.
However, hope for an upcoming altseason remains strong among investors.

Orbs Launches OIP-9 to Establish Community Governance DAO

Orbs has launched OIP-9, its first official community governance proposal to establish the Orbs DAO. If approved, it will create the initial governance layer, granting qualified members control over specific protocol aspects and advancing decentralization. After years of development, this proposal marks the next phase, formalizing community oversight through a methodical approach balancing security and decentralization. Tokens staked in the Orbs Proof-of-Stake contract will be eligible for governance via proposals and snapshot voting, with decisions executed through DAO-controlled multisig wallets. Initially, the DAO will supervise key network parameters, including PoS architecture, Guardian approvals, and significant protocol changes. The proposal adopts a progressive model, gradually increasing community responsibility. Future proposals may address protocol revenue, treasury management, and tokenomics. An emergency mechanism allows the core team to act if urgently needed for network stability, subject to subsequent DAO approval. This governance foundation will also support the next roadmap phase, including proposed Season 1 tokenomics, enabling future community decisions on protocol economics and ecosystem growth.

TheNewsCrypto16m ago

Orbs Launches OIP-9 to Establish Community Governance DAO

TheNewsCrypto16m ago

Wall Street Morning Report: AI + Cloud Computing Takes Over the Market Again, Amazon Knocks on the Door of $3 Trillion

Wall Street's August began with a strong rally, driven by easing Middle East tensions as President Trump signaled progress on U.S.-Iran talks, prompting a sharp drop in oil prices. Major indices hit record or near-record highs, with the Dow Jones Industrial Average up 1.32%, the Nasdaq Composite surging 2.13%, and the S&P 500 rising 1.48%. The energy sector was the sole decliner. The AI and cloud computing narrative dominated the tech rally. The "Magnificent Seven" index jumped 3.6%. Amazon's market cap surpassed $3 trillion for the first time following robust AWS results, while Nvidia regained a $5 trillion valuation. Meta, Google, and Microsoft also posted significant gains. Other AI-related stocks like Palantir, CoreWeave, and various semiconductor and infrastructure companies saw strong advances. In other markets, gold held above $4,000, supported by central bank buying. Treasury yields fell as oil prices dropped. The U.S. dollar remained stable despite strong manufacturing data. Japan's substantial currency intervention raised concerns, but U.S. officials reassured markets about the mechanism used. Key events ahead include major industry conferences (Ai4 2026, FMS Summit) and earnings reports from companies like SpaceX, AMD, and Pfizer. The White House is also set to host a meeting with leading AI firms to discuss regulatory frameworks.

marsbit37m ago

Wall Street Morning Report: AI + Cloud Computing Takes Over the Market Again, Amazon Knocks on the Door of $3 Trillion

marsbit37m ago

The July Tech Stock Pullback: Which Funds Are Paying the Price for Buying High?

In July, China's technology stocks experienced a sharp correction, causing significant pain for actively managed mutual funds that aggressively increased their holdings in the sector during the second quarter. The sell-off saw major indices like the ChiNext and STAR 50 fall over 25% and 28% for the month, respectively. Funds that piled into tech at its June peak faced steep losses. Notably, several veteran "value investor" fund managers, known for long-term holdings in consumer staples, made dramatic shifts. Star managers like Zhang Kun (E Fund Blue Chip Selected) and Liu Yanchun (Invesco Great Wall Dingyi) drastically reduced positions in liquor stocks like Kweichow Moutai, switching instead to semiconductor and AI hardware companies like SMIC and Ingenic International. Data shows active equity funds' allocation to the electronics sector reached a historical high of 42.64% by end-Q2. Around 67 funds saw their TMT (Technology, Media, Telecom) weighting surge from an average of 6.75% to 54.99%. The consequences were severe in July: these high-TMT funds fell an average of over 20%, with 12 plunging more than 40%. Examples include Jinhua High-Quality Growth and Guoshou Anbao Wenhui, which fell 26.34% and nearly 40% respectively after raising TMT weights above 70%. The article also highlights issues of "style drift," where funds with names like "high-dividend" held high-P/E tech stocks instead, confusing investors. Newly launched funds suffered even more. For instance, Guotai Haitong New Energy RuiXuan Hybrid, launched in mid-June, saw its net asset value plummet to 0.5509 yuan by July 30, a loss of nearly 45%. Analysts note the extreme sector concentration mirrored past bubbles (e.g., 2021 new energy). The intense, crowded trade itself became a major risk. While tech stocks rebounded sharply on July 31, the funds that chased the high face a longer-term market test.

marsbit52m ago

The July Tech Stock Pullback: Which Funds Are Paying the Price for Buying High?

marsbit52m ago

Dalio's Warning: AI Bubble Is Here, Gold Is the Hard Asset

Ray Dalio, founder of Bridgewater Associates, warns that the AI sector is currently in a bubble, drawing parallels to historical examples like the 1929 crash and the dot-com bubble. He explains that revolutionary new technologies lead to excessive excitement and investment, often with investors ignoring price fundamentals and taking on debt, which ultimately creates unsustainable asset valuations. Dalio outlines three key signs that a bubble is about to burst: 1) Rising interest rates, which force asset sales for liquidity. 2) A significant increase in stock supply as companies issue more shares. 3) A shift in ownership from steadfast institutional investors to less knowledgeable, often leveraged, retail investors. To navigate the potential downturn, he strongly advocates for a diversified investment portfolio, criticizing cash as a poor long-term store of value due to inflation. He specifically recommends allocating 5-15% of a portfolio to gold, which he views as a unique "hard asset" and an effective hedge because it is no one else's liability. In contrast, he is skeptical of Bitcoin as "digital gold," citing potential vulnerabilities to future technologies like quantum computing and government intervention. Regarding the AI revolution, Dalio believes the primary beneficiaries will be capitalists who own the automating technology, potentially exacerbating wealth inequality as machines replace both physical and increasingly complex cognitive labor. However, he concludes that humans with exceptional intelligence and strong collaborative skills will continue to thrive by leveraging uniquely human traits like emotion and intuition that AI cannot replicate. Finally, touching on his theory of long-term cycles, Dalio suggests the world is currently approaching a significant inflection point in an approximate 80-year cycle of changing world orders.

marsbit1h ago

Dalio's Warning: AI Bubble Is Here, Gold Is the Hard Asset

marsbit1h ago

Bitmine adds $19.6M in ETH, repurchases 4.5M shares

Bitmine Immersion Technologies expanded its Ether holdings by 10,399 ETH last week, valued at $19.6 million, as part of its ongoing crypto acquisition strategy. The company's total ETH holdings now stand at approximately 5.8 million, worth around $10.9 billion, representing about 4.8% of Ethereum's circulating supply. Bitmine's goal is to reach 5% of the total ETH supply. Additionally, the firm repurchased 4.5 million of its own common shares, bringing total buybacks since July 1 to 16.1 million shares under a previously approved $4 billion program. Bitmine's overall portfolio, including Bitcoin, cash, securities, and equity investments, is valued at $11.3 billion.

cointelegraph1h ago

Bitmine adds $19.6M in ETH, repurchases 4.5M shares