Conclusion first: altcoin-season sentiment has just started to warm up, but on the Bitcoin side, the wind direction is already changing.
The altcoin-season index has risen from 30 to 50 over 4 days, shifting from being skewed toward Bitcoin dominance back into the neutral zone. Out of 50 major coins, 25 outperformed Bitcoin.
Over the past 24 hours, the entire network liquidated $590 million, with 88.5% being shorts. Bitcoin alone accounted for 94%—this is the playbook from the recent surge that squeezed shorts.
In the past hour, the market sentiment has flipped direction. The whole network liquidated $6.82 million, and 88% flipped to longs. Bitcoin itself made up 93%, and Ethereum—86% as well—was longs.
We just buried the shorts, and then immediately started burying longs. The switch is so fast that chasing rallies and selling dips makes it easy to end up on the wrong side.
$BTC $ETH
Do you think this move is a shakeout or a trend reversal?
Check in real time: https://www.coinboss.com/indices