Altcoin Season Index sits near 24, which indicates thin breadth and a market still led by Bitcoin trends. Even with green prints in select names, allocation remains selective and event-driven.
Today’s market centers on a policy headline and two tokens that benefited from active venues rather than a broad risk reset.
Investors are weighing whether a friendlier policy tone can change the near-term path for altcoins or if this is another brief pop inside a cautious October. The answer depends on participation, not headlines alone.
WLFI is currently trading near $0.14, up by 11% in 24 hours, with trading volume up about 210%. The move tracks reports that President Trump issued a pardon to Binance co-founder Changpeng Zhao, also known as CZ.
Markets read the decision as a positive for the industry, reducing perceived policy risk and improving the odds of friendlier enforcement.
WLFI’s next phase depends on whether current enthusiasm transitions into steady participation. A healthier pattern would show funding rates returning toward neutral while open interest and spot volume expand together, suggesting that buyers are engaging across positions rather than chasing momentum.
Trading distribution across multiple venues would also hint at broader confidence, whereas a quick return to one-sided flow on a single exchange often precedes price retracement once the headline impulse fades.
Morpho is trading around $2.0, up 8% on the day. Consistent usage is reported across lending routes and vault strategies, with borrow and supply improving week over week.
Morpho Price (Source: CoinMarketCap)
Depth looked workable on major pairs, and spreads tightened compared with last week, which helped spot prints hold above reclaimed intraday levels.
For a lending token in a risk-light market, the watch items are utilization, deposits, and whether the price can stay above nearby support while volumes remain balanced. A sustained base keeps Morpho in rotation lists even if the index remains subdued.
SPX6900 is trading near $1.0, up by 7% in 24 hours. Meme baskets tend to catch flow when traders seek liquid, high-turnover pairs during relief windows. Data shows two-way participation with intraday bands narrowing into the close, a pattern that favors range extension attempts if volume persists.
Traders are watching the $1.05 to $1.10 zone for confirmation. A push through that band on rising volume would validate continuation. A slip back under $1.00 would imply the move was flow-driven and short-lived.
