Altcoin Season is losing strength, but some alts are holding up better than Bitcoin. The Altcoin Season Index (60D, 44 major alts vs BTC) peaked at 86.4 on Oct 4. Today it sits at 43.2, half of that reading in just 40 days. 🔴 The broader trend is clear: alt breadth has been fading. But in the short term, something changed. The index bounced from 31.8 to 43.2 today, with 19 of 44 alts now outperforming BTC over the window, while Bitcoin is down 12.2% in 60 days, around $68,680. Leaders: NEAR +42.3%, BAT +40.4%, PEPE +27.7%, SAND +13.3%, SUI +11.2%, AVAX +10.2%. Laggards: VET -33.3%, EGLD -29.2%, XRP -28.6%, ETH -22.9%, SOL -22.5%. Historical context: Since May 2021, there were 632 days when BTC's 60-day return was -10% or worse. The median index on those days was just 22. It printed 43 or higher on only 105 of them (~17%). So this is not an altseason. It's selective relative strength inside a falling market. Caveat: in Jul–Aug 2022 this index hit 97.6 while BTC was still down ~25% over 60 days. Alts were simply falling slower. Today's daily candle is also still open, so the reading can change before the close. Follow the data, not the narrative.