The altcoin market saw its capitalization reach $222 billion for the first time in eight months, signaling renewed interest. However, according to Glassnode, altcoin leverage remains below the historical risk threshold, with futures open interest down 10% to 15% relative to Bitcoin. Cryptocurrencies remain far from their all-time highs: Bitcoin is 36% below its record, Ethereum 47% and Solana 61%. The altcoin season index stands at 54, indicating a market between Bitcoin Season and Altcoin Season. While altcoins show signs of recovery, the market has not yet reached the breadth or consistency required to confirm a true altseason.
Source: Read the original article
