A new method is developed for studying large-scale temporal variability of ocean currents from satellite altimetric sea level measurements at intersections (crossovers) of ascending and descending orbit ground tracks. Using this method, sea level time series can be constructed from crossover sea level differences in small sample areas where altimetric crossovers are clustered. The method is applied to Seasat altimeter data to study the temporal evolution of the Antarctic Circumpolar Current (ACC) over the 3-month Seasat mission (July-October 1978). The results reveal a generally eastward acceleration of the ACC around the Southern Ocean with meridional disturbances which appear to be associated with bottom topographic features. This is the first direct observational evidence for large-scale coherence in the temporal variability of the ACC. It demonstrates the great potential of satellite altimetry for synoptic observation of temporal variability of the world ocean circulation.