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Altseason now looks like an old program coded on caffeine, compiled one stormy night in a nervous trading laboratory. One day, it seems close, almost tangible, like a “patch” ready to abruptly awaken the crypto market. Then, a few hours later, it vanishes behind the dark screens of crypto exchanges saturated with algorithmic hesitation. This constant speculation now feeds the entire crypto-sphere. Bitcoin moves slowly, sucks in liquidity, then leaves altcoins to chat among themselves like forgotten avatars in a digital waiting room.
In brief
- Bitcoin dominance now exceeds 61%, still massively concentrating global crypto investor flows currently.
- Binance altcoins volumes are rising sharply despite altseason still technically absent today on several major indicators.
- Ethereum silently transforms the crypto ecosystem through stablecoins, DeFi tokens, and now dominant automated smart contracts.
- The AltSeason Index remains low despite several technical signals showing a progressive stabilization of altcoins currently observed.
Bitcoin regains control of the “mainframe” while altcoins are still searching for their signal
Bitcoin has just exceeded 61% dominance, reaching its highest level since November 2025. Indeed, BTC has risen about 36% since its low point on February 6 near 60,000 dollars.
This surge acts like a financial black hole in the crypto market. Capital is now sticking to bitcoin with almost surgical precision.
Darkfost perfectly sums up this situation in his analysis published on X:
BTC has just passed 81,000 dollars and its dominance now exceeds 61.3%. Capital flows remain largely concentrated on bitcoin.
Source: X / @Darkfost_Coc
Yet, several altcoins are timidly beginning to breathe underneath this massive lid. TOTAL3 climbs towards 765 billion dollars after several complicated weeks. Then, 11.7% of Binance altcoins move back above their 200-day moving average. This figure seemed anesthetized since October 2025.
Crypto investors are therefore watching this technical micro-crack like biologists watching a mutant cell under a quantum microscope.
Exchanges quietly restart their engines while AltSeason remains under watch
Binance altcoin volumes now tell a much more nuanced story. In March, they accounted for only 31% of combined BTC and ETH volumes. Now, this share climbs towards 49%, a sign of a gradual return of speculative appetite.
This movement resembles less an euphoric explosion than a silent server restart after a massive failure. CW8900, an analyst at CryptoQuant, even believes the bitcoin season is slowing down progressively. He writes:
The altcoin season is starting quietly. Altcoin volumes are rapidly increasing on centralized exchanges and the true AltSeason is approaching.
Source: CryptoQuant
However, several indicators remain cautious. The 90-day AltSeason Index only reaches 28.6. Old altcoin cycles regularly exceeded the threshold of 75 before a real crypto euphoria.
Crypto traders therefore proceed carefully, like developers entering a potentially trapped “sandbox.”
Several comments under tweets also remind that bitcoin dominance is still far too aggressive to allow altcoins to sustainably breathe.
Ethereum silently transforms the crypto market structure like an autonomous neural network
The interview given by Aleksandr Vat to BeInCrypto offers a much more disturbing reading of the current crypto market. According to Ethplorer, altseason may have already happened, but elsewhere. More precisely, in Ethereum’s own balances.
The top 10,000 Ethereum addresses now control about 342 billion dollars.
However, only 34% of this value remains stored directly in ETH. The remaining 66% now lives in tokens, stablecoins, and DeFi protocols.
This mutation profoundly transforms the crypto ecosystem. Ethereum is gradually becoming “entity-centric.” In other words, smart contracts, bridges, and pools slowly replace the formerly hypertrophied whales. About 28% of Ethereum’s capital already rests on these automatic infrastructures.
This mechanism resembles more an artificial brain than a simple traditional speculative market.
Numbers that still shake crypto dashboards
- Bitcoin dominance: sharp return above 61% since November 2025;
- Binance altcoin volumes: rapid rise from 31% to now 49%;
- BTC price: 81,104 dollars at current writing;
- TOTAL3 now approaches 765 billion after several extremely difficult months;
- AltSeason Index: only 28.6 despite the progressive awakening of the crypto market.
The crypto market remains suspended between algorithmic euphoria and biological caution. Yet, bitcoin has recently exited a prolonged phase of fear after 108 extremely nervous days. This psychological shift could now open a trajectory towards 100,000 dollars. Altcoins, meanwhile, are still waiting for their true release sequence.
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La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.