Altcoin Season Index Drops to 35: Is Bitcoin Dominance Here to Stay?
The Altcoin Season Index has dropped to 35, signaling a shift in market sentiment towards Bitcoin. This five-point decline from the previous day reflects Bitcoin's price stability and its appeal as a safe-haven asset during uncertain times.
The index is calculated by comparing the 90-day performance of Bitcoin against the top 100 altcoins, excluding stablecoins and wrapped tokens. A reading below 50 typically indicates a 'Bitcoin season,' while above 75 suggests a strong altcoin season.
This current reading of 35 suggests that while some altcoins are still performing well, the overall market is favoring Bitcoin. This may be due to macroeconomic factors or regulatory developments affecting the crypto space.