Bitcoin News Today: Altcoin Momentum Builds as ASI Hits 59 Amid Growing Market Excitement

The Altcoin Season Index (ASI) is signaling growing momentum as the market appears to be shifting away from Bitcoin dominance, with ether nearing $4,000 and a number of alternative cryptocurrencies posting strong gains [1]. The ASI, available on blockchaincenter.net, tracks the performance of the top 50 cryptocurrencies—excluding stablecoins—to determine whether altcoins are outperforming Bitcoin. When 75% or more of these coins exceed Bitcoin's returns, it marks the start of altcoin season; conversely, if 25% or fewer outperform, it’s classified as Bitcoin season [1]. The index has been hovering near the 41 level recently, indicating a gradual shift toward altcoins [1].

Historically, altcoin seasons have occurred roughly every 66 days on average, but the last one occurred 241 days ago—well beyond the typical cycle—leaving traders eager for a potential breakout. While the record dry spell for altcoins was 486 days, their average run lasts just 18 days, suggesting that the current buildup may signal a meaningful shift rather than a short-lived rally [1].

Late in 2024, the ASI briefly crossed the 75 threshold before retreating, and in early 2025, it dipped near the 25 mark, favoring Bitcoin. However, a late July spike pushed the index to 59, hinting at a return of altcoin momentum [1]. This coincided with a surge in market discussion, with Grok identifying 565 unique X posts using the phrase “Altcoin Season” between August 1 and August 8, 2025. Users were expressing excitement, with many calling for a return to the high-growth environment of 2021 [1].

Among the top performers in the 90-day period were PENGU, up 157%, followed by HYPE (+56.9%), Ethereum (+52.6%), WBETH (+52.1%), and ENA (+50.3%). Other notable risers included Uniswap (+48.7%), Cronos (+46%), and Stellar (+43.7%). Bitcoin itself rose 8.9%, reinforcing the broader trend of altcoin strength [1].

However, the market also saw significant declines, with Pi down 52.5%, Render falling 30.6%, and Polkadot, Vechain, and Aptos all losing between 23.6% and 26.3%. Meme coins also faced pressure, with Shiba Inu and Dogecoin down 23.6% and 8.9%, respectively. The mixed performance underscores the volatile nature of the crypto market, where gains and losses can be dramatic [1].

If the trend continues, traders may be on the cusp of a sustained altcoin season. However, given the market’s historical volatility, any shift in sentiment could quickly reverse the trend. Analysts note that Bitcoin’s performance in the coming weeks will be a key indicator of whether this is a short-term rally or the start of a broader altcoin resurgence [1].