As of December 18, 2025, BTC.D is approximately 56.8%, in a downward channel, favorable for altcoin season.

Overview of the trend curve (time-value)

- Early January: approximately 55.7% (annual low), funds testing altcoins

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- April: rises to 60.5%, first break of 60%, BTC strongly attracts capital

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- June 22: 65.0% (annual high), institutional ETF continues to inflow

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- July-September: fluctuates downwards, September drops to 57.9%, funds begin to rotate

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- Early November: 61%+, after a brief rebound accelerates downward

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- End of November: 58.8%, breaks below the key level of 60%

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- Mid-December: approximately 56.8%, breaks 57%, clear signal for altcoin season