As of September 26, Bitcoin dominance dropped to 58.5% after failing to maintain a level above 60%. Meanwhile, the total cryptocurrency market capitalization has reached $3 trillion.
Glassnode's Altcoin Cycle Signal reached 81.25 on September 22. Despite this, the Altcoin Season Index remains between 45 and 53, which is below the 75 threshold required to signal a full altseason.
The market capitalization of altcoins, excluding Bitcoin, rose to between $1.17 trillion and $1.19 trillion in late September, marking a 33% increase since mid-August.
Bitcoin is currently trading around $84,000, following a recent movement in the $86,000 to $87,000 range. Analysts note that the current market structure differs from 2017 and 2021 due to the influence of Bitcoin ETFs.
