Altcoin Gains Fade Quickly as Bitcoin Dominance Climbs

Just under half of the altcoins listed on Binance have fallen back below their 200-day moving average. The share stood at 48.4% on October 18, after starting the month at less than 10%.

Blockchaincenter’s 90-day Altcoin Season Index still shows a neutral reading of 51. Its 30-day Altcoin Month Index, however, has slipped to 29, not far from the 25 threshold that points to Bitcoin season.

The Surge That Brought 9 in 10 Altcoins Above Their Trendline

This reversal in market breadth follows a rally that began in late August. At that stage, 81% of Binance altcoins were below their 200-day average, analyst Darkfost said in a post.

By early October, that portion had dropped to less than 10%, leaving about nine in ten of the exchange’s altcoins in a confirmed uptrend. Darkfost estimated that altcoins took in more than $814 billion over the two months.

Over the last 15 days, though, the analyst estimates more than $134 billion has flowed out of altcoins. He described quick profit-taking as a likely driver of a sizable share of the exit.

Bitcoin Moves Back Ahead as Exchange Stablecoin Reserves Decline

The cooldown also shows up when altcoins are compared with Bitcoin (BTC). Blockchaincenter’s indexes measure how many of the top 50 coins outperform Bitcoin over a given period.

Its 30-day gauge climbed above the 75 threshold for altcoin season in late September before retreating to 29. The 90-day measure has fared better because its time window still covers the gains posted in August and September.

Bitway (BTW) recorded a 2,993.3% gain over the past 90 days, the best among the top 50. The token, issued on a Bitcoin-compatible blockchain, only started trading on March 2, 2026.

Quant (QNT) and NEAR Protocol (NEAR) came next, with gains of 199.3% and 163.3%, while Bitcoin’s advance stood at 25.9%. Seven coins among the top 50 more than doubled, and Ethereum (ETH) outperformed BTC by just 1.5 points.

Even so, the index has now gone 388 days without a return to altcoin season.

At the same time, Bitcoin dominance has moved up to roughly 60.7%. The metric tracks how much of the total crypto market value Bitcoin accounts for, so a higher reading means Bitcoin is faring better than the rest of the market.

The level has risen from roughly 59% in late September. It pushed back above 60% in the second week of October and is now higher than the early-September peak of about 60.4%. That leaves it at the strongest daily-chart point since at least late May.

On the demand side, CryptoQuant data places exchange reserves of Ethereum-based (ERC-20) stablecoins at $57.4 billion. That is down from nearly $78 billion in November 2025. Smaller reserves mean less stablecoin capital is sitting on exchanges, ready to be used for new purchases.

Darkfost noted that altcoin sentiment turns quickly, but he highlighted a pattern for investors who are patient.

“Yet history shows that it is when interest in and performance of altcoins are at their lowest that it becomes worthwhile to consider building an appropriate exposure,” he said.

Right now, the 30-day index is 4 points above the Bitcoin season zone, even as exchange stablecoin reserves keep declining.