The cryptocurrency market is currently experiencing a notable phase as the Altcoin Season Index, created by CoinMarketCap, indicates a shift in market dynamics. Based on the data provided in the document, this index is a key indicator for investors looking to gauge the performance of altcoins relative to Bitcoin.
What is the Altcoin Season Index?
The Altcoin Season Index measures market sentiment by analyzing the price movements of the top 100 cryptocurrencies, excluding stablecoins and wrapped tokens, over a 90-day period. A score of 75 or higher signifies a definitive altcoin season, where 75% of these altcoins outperform Bitcoin.
Current Market Status
At present, the index stands at 29, indicating that the market is still in Bitcoin season. However, recent upward trends in altcoin prices suggest a potential weakening of Bitcoin's dominance, hinting at a possible shift towards altcoin performance in the near future.
Recently, Samson Mow shared his insights on Bitcoin's future, challenging traditional beliefs about its price movements. This discussion contrasts with the current focus on altcoin performance as indicated by the Altcoin Season Index. For more details, see read more.
