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Altcoin Season Chances Drop, But 3 Indicators Point to Potential Revival
Alts Gets Pushed Down Again
Altcoin season refers to a period when altcoins outperform Bitcoin in terms of market cap growth. The Altcoin Season Index measures this trend, determining whether 75% of the top 50 cryptocurrencies are outperforming Bitcoin.
Typically, an index value above 75 signals the onset of altcoin season, while a value at 25 reflects Bitcoin dominance. However, as of now, the index has dropped to 49, highlighting a setback for altcoins as Bitcoin regains a stronger foothold in the market.
But despite the drawdown, it does not appear that the alt season is over. One indicator suggesting this is Bitcoin dominance.
An increase in Bitcoin dominance often signifies a growing preference for Bitcoin over altcoins, particularly during periods of market uncertainty.
This trend suggests that investors see Bitcoin as a safer option, given its relative stability and established market position. 0 reply
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