The total altcoin market capitalization fell from $1.85 trillion to $1.05 trillion in one month, while the Altcoin Season Index stood at 44, a level associated with a Bitcoin-dominated season. Between August and October 2026, the median altcoin return had reached roughly 50% to 60%, before falling back to nearly zero in November and trailing Bitcoin by 5.91% over sixty days. Crypto asset ETF flows showed widespread outflows on November 6, including $1.28 billion for Bitcoin ETFs and $365.28 million for Ethereum ETFs, indicating institutional withdrawals rather than a rotation into altcoins. Bitcoin dominance remained stable above 60%, and altcoins still failed to sustain the Altcoin Season Index above 75, confirming that the altcoin season had not started in 2026.
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