Altcoin Season Index Drops to 36 Amid Ongoing Bitcoin Dominance
The Altcoin Season Index has dropped to 36, down from 45 the previous day, signaling a continued period of Bitcoin dominance over the broader cryptocurrency market.
This index, created by CoinMarketCap, tracks the performance of the top 100 cryptocurrencies excluding stablecoins and wrapped tokens. It compares the price performance of Bitcoin against these altcoins over a 90-day rolling window.
A reading of 36 means that nearly all altcoins have underperformed Bitcoin in this period, indicating a market where Bitcoin is outperforming most other assets.
The drop suggests that capital is flowing into Bitcoin rather than smaller tokens. This trend can be attributed to several factors, including macroeconomic uncertainty and regulatory developments.