September’s altcoin season has ended as the Altcoin Season Index reached an overheated zone. Since October 2, BTC fell 8% from $87,000, ETH lost 14% dropping below $2,500, XRP crashed 20%, and SOL declined 15%. According to CryptoQuant data, profit-taking in the altcoin segment hit a 1-year high, illustrating massive liquidity rotation back to Bitcoin and stablecoins. However, if USDT dominance follows the 2023 pattern, a major altcoin recovery could be on the horizon next year, as the altcoin market cap excluding BTC and ETH grew from $400 billion to over $1 trillion during the last cycle.
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