A $215 billion altcoin rally rests on Bitcoin holding its reclaimed market structure

The altcoin rally added $215 billion in market capitalization between Aug. 19 and Aug. 22, pushing the combined value of coins outside Bitcoin (TOTAL2) up more than 24% and back above $1 trillion, according to CryptoQuant analyst Darkfost.Darkfost also found that 56% of Binance-listed altcoins have reclaimed their 200-day moving averages, a sharp reversal from the months when 80% to 85% traded below that line.He calls the move an early-stage altseason signal, though three days of gains this large have already left the market short-term overbought.IndicatorLatest readingWhat it saysWhy it mattersAltcoin market cap change+$215BCapital moved sharply into non-BTC assetsConfirms rotation pressureTOTAL2 move+24% in three daysAltcoin market rebounded fastAlso raises short-term overbought riskTOTAL2 levelAbove $1TMarket reclaimed a psychological thresholdSupports early-stage rotation framingBinance alts above 200-DMA56%Breadth improved materiallyRally is broader than a few large capsPrior breadth condition80%-85% below 200-DMAAlts were deeply washed out before the moveMakes the reversal more meaningfulWhy the altcoin rally still looks like a rotation from BitcoinThe Altcoin Season Index sa...