Altcoin

Pudgy Penguins

Bitcoin

when

<p>The Altcoin Season Index continued its downward trend this week as Bitcoin dominance accelerated.</p>
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  <span>Summary</span>
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   <li>The Altcoin Season Index has plunged to 15.</li>
   <li>The market capitalization of all altcoins has plunged.&nbsp;</li>
   <li>This market valuation has formed a double-top pattern.</li>
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<p>The index, which tracks the performance of altcoins against Bitcoin (<a href="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">BTC)</a>, declined to 15, the lowest level this year. This decline continued as most altcoins remained in the red.</p>
<figure class="wp-block-image size-full">
 <img loading="lazy" width="2206" height="853" src="https://media.crypto.news/2025/12/Altcoin-Season.webp" alt="Altcoin Season Index chart ">
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  <em>Altcoin Season Index chart | Source: CMC</em>
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<p>Data compiled by CoinMarketCap shows that only a handful of cryptocurrencies have risen in the last 90 days. Pippin token jumped by over 2,300%, making it the best-performing major tokens. The other notable gainers were privacy names like Zcash, Dash, Monero, and Merlin Chain.&nbsp;&nbsp;</p>
<p>On the other hand, tokens like DoubleZero, Story, MYX Finance, Immutable, and Pudgy Penguins were among the top laggards as they dropped by over 60% in this period.&nbsp;</p>
<p>These altcoins have underperformed the broader market as the Crypto <a href="https://crypto.news/altcoin-season-delayed-as-crypto-fear-and-greed-index-remains-in-red/" rel="noopener noreferrer nofollow">Fear and Greed Index</a> dropped to the fear zone of 25. It also happened as investors continued to reduce their leverage as evidenced by the falling open interest.&nbsp;</p>
<p>You might also like: <a href="https://crypto.news/heres-why-the-xrp-price-crashed-by-25-in-2025/" rel="noopener noreferrer nofollow"> Here’s why the XRP price crashed by ~25% in 2025 </a></p>
<p>The deleveraging accelerated after the October 10 situation, where over 1.6 million traders experienced a $20 billion wipeout. This wipeout has led to less demand for altcoins, which are considered riskier than Bitcoin.</p>
<p>Most notably, the Altcoin Season Index also dropped because of the ongoing Bitcoin decline. Historically, altcoins tend to experience steeper drops when Bitcoin is falling.</p>
<h2 class="wp-block-heading" id="altcoin-season-could-be-at-risk-as-a-double-top-forms">Altcoin Season could be at risk as a double-top forms</h2>
<figure class="wp-block-image size-full">
 <img loading="lazy" width="3574" height="2020" src="https://media.crypto.news/2025/12/Altcoin-Market-Ca.webp" alt="Altcoin Season Index chart ">
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  <em>Altcoin Season Index chart | Source: TradingView</em>
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<p>The three-day chart shows that the total market capitalization of all coins excluding Bitcoin and Ethereum has dropped from $1.19 trillion in October to the current $825 billion.&nbsp;</p>
<p>The valuation could be at risk of a steeper drop as it formed a double-top pattern at $1.16 trillion and a neckline at $658 billion. It also moved below the 38.2% Fibonacci Retracement level.&nbsp;</p>
<p>The market cap has also dropped below the 50-day and 200-day Exponential Moving Averages, a sign that bears remain in control. Also, the Relative Strength Index and the MACD have continued falling in the past few months.&nbsp;</p>
<p>Therefore, the most likely outlook is where altcoins continue falling as sellers target the 50% retracement at $739 billion. A drop below that level may lead to further decline to the neckline at $658.</p>
<p>You might also like: <a href="https://crypto.news/nft-sales-minor-drop-to-65-5m-ethereum-sales-plunge/" rel="noopener noreferrer nofollow"> NFT sales show minor drop to $65.5M, Ethereum sales plunge 24% </a></p>

Altcoin Season at risk as an alarming chart pattern emerges

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