Overview
- Multiple early-May signals now point to money moving from Bitcoin into altcoins, including a bearish MACD crossover on Bitcoin’s market-share chart that shows weakening momentum.
- The “Altcoin Volume Increasing Trend” has activated, meaning the 30‑day average of altcoin trading on centralized exchanges has risen above the 365‑day average.
- Performance has started to reflect the shift, with Solana (SOL) and Sui (SUI) posting double‑digit weekly gains as Ethereum (ETH) held steady and the altcoin market cap neared $1.1 trillion.
- Breadth is not yet confirmed, as CoinMarketCap’s Altcoin Season Index reads 50 against the 75 level that defines a broad altseason.
- On‑chain gauges such as MVRV and profit/loss margins remain below prior peaks and long‑term holders are selling little, and analysts say confirmation would require the index holding above 75 with the volume trend sustained for weeks, while a drop below 35 or a dominance rebound above 60% would undercut the rotation.