Is Ethereum’s Rally Signaling the Start of the Next Altcoin Season?
TL;DR
- Ethereum has gained about 31% in seven days, reviving expectations of a broader altcoin rotation. Yet BlockchainCenter’s index remains at 43, below the 75 threshold needed for altseason.
- Bitcoin still controls more than 59% of total market value, showing that capital has not fully rotated.
- Arthur Hayes believes ETH could lead the next leg higher if it breaks $3,000.
Ethereum’s latest rally is putting altcoins back on traders’ radar, but the market has not yet reached the broad participation required for a confirmed altcoin season. ETH has gained roughly 31% in seven days to about $2,495, while Bitcoin has also advanced strongly, keeping capital rotation incomplete.
The altcoin market has entered a state of optimism.
85% of alts reached funding rates above their mean.
This is the highest print we've seen for this metric since BTC was trading at all time highs.
In an alt season, these conditions can last for many weeks. pic.twitter.com/p9j2xNKIGJ
- glassnode (@glassnode) August 24, 2026
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