Alt Season continues, but structure shows post-peak echoes.

Concentration sits at 23.0%, alongside 4 independent voices and low stability, marking day 772 of the halving cycle. This lower-than-average concentration, -0.2334 versus the historical average at this cycle position, suggests a market still reacting to prior events. The market is currently in the post-peak zone, a phase historically associated with BTC Season, though this cycle has deviated from prior patterns. Cycle context shows day 772 post-H4, a position typically linked to BTC Season, which has occurred 94% of the time historically. The concentration gap versus the historical average remains stable at -23.3 percentage points, neither closing nor widening since 2026-05-28. Watch for a sustained rise in concentration above historical norms, which would mark a shift away from the current Alt Season structure. See hourly reading at banger.today/lens for finer context. Current reading refuted if a sustained contraction of independent voices is observed for 3 days. This is structural observation, not financial advice. Data: banger.today