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After all the optimistic predictions made for the altcoin season earlier in September, the latest data shows signs of the opposite.

Movements in Bitcoin Dominance, the Altcoin Season Index, and trading sentiment suggest that the altcoin season may be delayed or end sooner than expected.

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Bitcoin Dominance Recovery Sparks Concerns of Delay

TradingView data shows that since mid-September, the total crypto market capitalization has dropped from over $4 trillion to $3.82 trillion. At the same time, Bitcoin Dominance (BTC.D) has risen from 57.3% to nearly 59%.

Bitcoin Dominance measures Bitcoin’s share of the total crypto market cap. A rise in BTC.D during a market-wide decline signals that altcoins are falling faster than Bitcoin.

From a technical perspective, analysts believe BTC.D could keep climbing as the inverse head-and-shoulders pattern confirms. A breakout above 59% would be a nightmare scenario for altcoins.

As a result, many investors are questioning whether the barely underway altcoin season has already been postponed.

“Bitcoin dominance is pumping again! Money is rotating to Bitcoin! Altseason delayed?” Whale.Guru reported.

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Additionally, the Altcoin Season Index has fallen to 69, slipping under the 75-point threshold that confirms an altcoin season.

If capital continues to exit altcoins, the index could fall deeper. The dream of the biggest altcoin season in history may drift further away.

The market sentiment index has shifted from Neutral to Fear. This signals a risk of panic selling if fear escalates into Extreme Fear.

A recent BeInCrypto report highlighted contradictions in September’s altcoin season. Investor capital is not spread across tokens, while the market is oversaturated with too many coins.

“The days of just buying coins and waiting for the entire market to go up are gone. There are too many coins now and not enough liquidity or attention for all of them to pump at the same time,” AshRobin, founder of Kanto Lab, said.

Despite weakening indicators, many investors still believe a larger altcoin season lies ahead. Optimism comes from expectations that the Fed’s rate cuts and potential approval of multiple Altcoin ETFs—following the SEC’s new standards—could ignite the next big wave.