Live updates: An 'altcoin season' signal flashed, but bitcoin's slide is what set it off

The signal tracks relative performance, so alts can lead either by rising or by falling less. This is the second case. After nearly two years of declines, alts have run out of sellers and steadied, while bitcoin has dropped hard, sliding back toward $63,600, per CoinDesk data. Bitcoin, as Glassnode puts it, "is still doing most of the work."