Crypto markets are giving hints of altcoin season. But we’re not there yet.

The total crypto market cap has jumped almost 20% since earlier this month, swelling by over $360 billion to $2.35 trillion. Altcoins are responsible for about 40% of those gains, with the rest coming from bitcoin.

But first, let’s define altcoin season.

One sometimes-cited index says an altcoin season starts when three-quarters of the top 50 coins have performed better than bitcoin over the past 90 days.

Only 34% of the top 50 have beaten bitcoin across that period. There was a very brief period at the start of the year where those conditions were met but it didn’t pan out into a full-blown altcoin…

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