Just noticed the altcoin season index hit 34 yesterday, which means about a third of the top 100 coins are finally starting to beat Bitcoin over the last 90 days. Not massive, but worth paying attention to since this kind of early momentum sometimes signals the start of a rotation phase.

For context, the altcoin season index needs to hit 75 before we're actually in confirmed altcoin season territory. So we're still pretty early. The move from 32 to 34 is modest, but it's the type of signal that traders watch for - it's basically saying capital is starting to sniff around alts instead of just sitting in Bitcoin.

Thing is, not all altcoins are moving equally. Layer-1 protocols like Avalanche and Polkadot are showing relative strength, while some DeFi tokens are mixed. Gaming and metaverse stuff is bouncing around but up a few days in a row. This tells me money isn't just flooding into everything - it's being selective, which actually feels healthier than blind FOMO.

The real question is whether this holds. One analyst put it well: by the time the altcoin season index confirms a full trend at 75, a lot of the gains have already happened. So the edge is in catching these early inflection points and doing actual research on projects rather than just chasing the index reading.

Macro backdrop matters too. If rates stay favorable and regulatory stuff stays chill, alts have better odds. But this index move alone isn't a buy signal - it's just data. Definitely worth monitoring the next few weeks to see if it holds above 35 and pushes toward 40.