Altcoin Season Indicators at Bear Market Lows

Altcoin Season Indicators at Bear Market Lows

user avatar

by Son Min-ho

a year ago

Made with AI


As the cryptocurrency market continues to evolve, the anticipated altcoin season appears to be further away than many had hoped. Recent indicators suggest that the market is still firmly in Bitcoin's grip, with altcoins struggling to gain traction. The source notes that this trend may persist until Bitcoin stabilizes and shows signs of a sustained rally.

Current Altseason Index Status

The Blockchain Center's Altseason Index currently sits at 35 out of 100, marking the lowest point since July. This decline is echoed by CoinMarketCap's index, which has dropped to a concerning 24, reinforcing the notion that Bitcoin remains the dominant player in the market.

Additional Index Reports

Additional reports from CryptoRank and Bitget reveal similarly low altcoin season index values:

  • CryptoRank: 24
  • Bitget: 30

Market Implications

These figures indicate that, despite some analysts' optimistic forecasts, an altcoin season is not on the immediate horizon. Most altcoins are trading at multiyear lows, with only a handful, such as Binance Coin and Hyperliquid, managing to reach recent all-time highs.

Recent discussions on the impact of reduced leverage in the cryptocurrency market have raised questions among investors, contrasting with the ongoing dominance of Bitcoin highlighted in the previous report. For more details, see speculation details.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Payward to Acquire Saldo Bank for European Banking Expansion

Payward, the parent company of Kraken, plans to acquire Lithuania-based Saldo Bank to enhance its banking capabilities and integrate banking products with crypto services.

user avatarMaria Fernandez

Germany's Sparkassen Group Begins Cryptocurrency Trading Rollout

Germany's Sparkassen savings bank group is starting a phased rollout of cryptocurrency trading within its existing banking app, beginning on October 19, 2023.

user avatarGustavo Mendoza

CME Group to Launch Bitcoin Cash and Uniswap Futures on October 19

CME Group has scheduled the introduction of Bitcoin Cash and Uniswap futures for October 19, providing institutional traders with more cryptocurrency markets.

user avatarRajesh Kumar

Ethereum's Glamsterdam Upgrade Scheduled for Hoodi Test Network

Ethereum's next major upgrade, Glamsterdam, is set to activate on the Hoodi test network on October 26, marking a significant step in testing changes to block production and execution costs.

user avatarMiguel Rodriguez

International Crackdown on West African Scam Networks Results in 28 Arrests

An international effort against West African scam networks has led to 28 arrests and the removal of over 37 million accounts linked to fraudulent activity.

user avatarLuis Flores

Stablecoin Payment Transactions Surge Despite Flat Supply

A new report reveals a significant increase in stablecoin payment transactions, contrasting with stagnant supply levels.

user avatarArif Mukhtar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.