Definition. The Altcoin Cycle Signal measures whether the market favors bitcoin versus all altcoins. It is based on price data of the top 250 altcoins by market capitalization (excluding stablecoins) and is meant to be largely agnostic to which altcoins in particular an investor holds.

Technical. The metric is updated daily at 10:15 UTC, providing the previous day's data point at this time.

Interpretation. During Bitcoin Season, bitcoin is likely to outperform the basket of all altcoins, during Altcoin Season this dynamic inverts.

Notes. For more information on its interpretation and methodology, see this dashboard.