Alt Season continues, but stress signals persist.

Concentration sits at 22.5%, indicating a degree of coupling within the market, alongside only 3 independent voices observed. Stability remains low, and this marks day 830 post-H4 halving. The market is currently experiencing Alt Season, though historically, cycle position has favored BTC dominance (94%). Cycle context: Day 830 post-H4 places the market in a post-peak zone. The concentration gap versus historical averages at this point sits at -23.8 percentage points and remains stable compared to readings from 2026-07-25, suggesting no immediate shift toward tighter coupling. This cycle’s structure has diverged noticeably from prior cycles. Watch for a sustained rise in BTC dominance that would mark a transition away from the current Alt Season narrative; see hourly reading at banger.today/lens for finer context. Current reading refuted if altcoins consistently outperform Bitcoin for 14 days. This is structural observation, not financial advice. Data: banger.today