Relative strength. For each coin we take its price return over the last 13 and 26 weeks, then divide by Bitcoin's return over the same period, and separately by the alt market's. A reading of +20% against Bitcoin means the coin outperformed Bitcoin by twenty percent over that window. It does not mean the coin rose twenty percent.

The strength score is the average of where a coin ranks on each of those four measures, from 0 to 100. A coin at 90 has been among the strongest on most measures. It is a ranking within this week's list, so it moves when the list moves.

The alt market benchmark is an equal-weighted average of the coins in the scan outside the top ten. It tracks the direction of the broader alt market closely but is not identical to a market-cap-weighted index, so treat it as an approximation.

Why there is no cycle position per coin. We tested it. Taking a coin's price against its own long-term trend needs about six years of history before the reading is trustworthy. With three years, it lands in the wrong band two times in three, and it looks like a normal reading while doing so. Rather than publish a plausible number that is usually wrong, we leave it out entirely.

Exclusions. Stablecoins, wrapped assets and liquid staking tokens are removed. Their strength against Bitcoin reflects the peg or the wrapper, not the market.

Limits. This is a description of what has already happened. Relative strength persists sometimes and reverses sometimes, and we have not established which conditions favour either. Use it to see where money has been moving, not to predict where it goes next.