By Keel Research Team
The indicator data is updating. Check back in a few minutes.
Keel's altcoin season index counts how many of the most traded Hyperliquid altcoins beat Bitcoin over 90 days, as a number out of 100. Today's value is updating.
The indicator data is updating. Check back in a few minutes.
Altcoin season is the stretch when money rotates out of Bitcoin and into smaller coins, and most of them outrun it. When it ends, altcoins often fall harder than Bitcoin.
The index tells you which regime you are in, not when it will change. A rule that holds the strongest coins by recent return, and steps aside when Bitcoin leads, is the usual way traders act on it. That is a momentum strategy, and it can be tested: the momentum backtest runs it across the most traded Hyperliquid perps with fees and funding, and the library version can be forked and changed.
See how a momentum rule has done on Hyperliquid, then fork the library strategy and pick the coins and lookback yourself.
A 0 to 100 reading of whether altcoins or Bitcoin are leading. This version takes the most traded altcoin perps on Hyperliquid, checks which of them returned more than Bitcoin over the last 90 days, and reports that share as a number out of 100.
This page answers it each day from the index value. The index calls altcoin season at 75 or higher, when three in four of the most traded altcoins have beaten Bitcoin over 90 days.
Universe: the most traded Hyperliquid perps, plus the 12 dashboard coins, excluding Bitcoin, with at least 91 days of daily bars. For each, the 90-day close-to-close return is compared with Bitcoin's over the same days. The index is the share that beat Bitcoin, times 100. It updates once a day after the UTC close.
No. Those use their own coin lists and spot prices. This is Keel's index over Hyperliquid perps, so it can read differently from theirs on the same day.
It uses today's most traded list for the whole 90-day window, so coins that faded and dropped out of that list are missing, which flatters altcoins a little. It counts coins, not market value, so a small coin beating Bitcoin counts as much as a large one.
Most traders rotate toward the coins with the strongest recent returns and step back when Bitcoin leads. That is a momentum rule, and the momentum backtest linked here tests it on Hyperliquid history before you use it.