Altcoin Season Index Drops to 38: Bitcoin Dominates Market Momentum

The Altcoin Season Index has dropped to 38, indicating that Bitcoin is still dominating the market. This metric compares the price performance of the top 100 cryptocurrencies against Bitcoin over a 90-day period and shows that fewer than 75% of these altcoins have outperformed Bitcoin.

A reading of 38 suggests that Bitcoin has been outperforming most altcoins, which can be due to periods of market uncertainty or institutional investors favoring the stability and liquidity of Bitcoin.

The current index reading implies that a broad-based altcoin season has not yet begun, but this does not mean all altcoins are underperforming. Some projects with strong fundamentals or unique use cases may still show resilience.