Most altcoins are above their long average. The season index says 41.
The index that decides altcoin season reads 41 while 70% of altcoins trade above their long average.
The altcoin recovery was filed and the index that names a season did not sign it. On September 20, 2026, that index read 41[1]. Binance data showed 70% of altcoins trading above their long averages[2]. CryptoQuant’s Darkfost put Total3, altcoin market cap less Bitcoin and Ethereum, above $800 billion[3]. Anyone who bought the recovery paid for a season the index has not agreed to name. The machine logged the gains and left the season field blank.
Who gains, who loses
Receipts
Blockchaincenter’s Altcoin Season Index fell to 41 on September 20, 2026, sitting 34 points below the level that historically confirms an altcoin season.
“Blockchaincenter’s Altcoin Season Index fell to 41 on September 20.”
By September 20, 2026, Binance data showed that 70% of altcoins were trading above their 200-day averages, a level last seen in October 2025.
“Furthermore, Binance data showed that 70% of altcoins were trading above their 200-day averages, a level last seen in October 2025.”
CryptoQuant analyst Darkfost reported that the Total3 metric, tracking altcoin market capitalization excluding Bitcoin and Ethereum, moved back above $800 billion in September 2026, a level not reached in more than 8 months.
“CryptoQuant analyst Darkfost reported that Total3 moved back above $800 billion.”
Cabal Desk is reporting, written with AI under human oversight. Every bracketed number opens its receipt: the source, the quoted span, the hash. Headlines and characterisations are commentary; the sourced facts are the receipts. Not investment advice. Corrections log. Editorial & legal.