The Altcoin Season indicator on CryptoQuant -- which tracks 2,000+ altcoins across major exchanges -- shows the market is still firmly in #Bitcoin Season.
That’s actually a familiar setup.
Historically, Bitcoin tends to lead the cycle first as capital concentrates in the largest, most liquid asset. Once $BTC establishes strength and confidence returns to the market, liquidity often begins rotating into altcoins.
Another interesting signal shows up when the data is broken down by exchange.
Altcoin performance is highly synchronized across Binance, Coinbase, OKX, Bybit, and others, suggesting capital flows across the market are tightly aligned right now.
In other words, the structure of the market is setting up in a way that has often preceded broader altcoin momentum.
For now, Bitcoin is still leading the cycle -- but historically, that’s usually the phase that comes right before altcoins start catching up.
📸 joaowedson #bitcoin 
