The Crypto Market Fear and Greed Index rose above 60 on the 20th of August and hasnt dropped below this mark since. Greed values signal bullish market strength.
The latest Bitcoin [BTC] rally from $76k back above $80k has led to another surge in bullish sentiment. The altcoin market cap growth, as a collective, has kept pace with Bitcoin, too.
Altcoin market cap clears key resistance level, but it is not yet altseason
In doing so, the altcoin market cap (including Ethereum) crossed the $1.07 trillion level. It marked the mid-level of a long-term range. Clearing it was an important development and could be the start of another attempt to climb to and clear the range high at $1.71 trillion.
The altcoin season index was only at 54. Usually, market extremes are reached when the index scores reach above 80, which previously happened in September 2025, just weeks before Bitcoin made its all-time high.
It is not yet altseason. Rising altcoin market cap and falling Bitcoin dominance trends, if they come true in the coming weeks, will serve as confirmation of hefty capital flow into the altcoin market.
Altcoin strength set to continue
As a share of Bitcoins Open Interest, the altcoin OI has not reached risk levels, noted Glassnode in a post on X. A resurgent Ethereum also helped make the case that the altcoin strength would continue in the coming days and weeks.
70% of the altcoins on Binance have moved back above their 200-day moving average, noted crypto analyst Darkfost. This confirmed that a majority of them were experiencing strong, sustained bullish momentum in recent weeks to clear this key MA.
Bitcoin was looking to break the $82k resistance zone. Its bullish momentum in recent weeks has brought attention back toward crypto.
The sudden price rally across the market resulted in a surge in social media posts. This can lead to more discussion, more FOMO, and more speculation, wrote Alphractal in a post on X.
Heightened leverage could be a factor to watch out for, as it would increase the risk of a pullback. As things stand, the conditions support further gains for the altcoin market.
Final Summary
- The altcoin market cap (including Ethereum) crossed above the $1.07 trillion mark.
- Many altcoins were above their 200-day moving average. Clearing this key MA showed a sustained uptrend for alts, while leverage was not yet overheated either.