Altcoin Season Index Falls to 38 as Bitcoin Dominates Market
The Altcoin Season Index has fallen to 38, indicating that Bitcoin is currently dominating the market. This metric, which tracks the price performance of the top 100 cryptocurrencies against Bitcoin over a 90-day period, suggests that Bitcoin's strength continues.
The index works by comparing the price movements of the top 100 altcoins (excluding stablecoins and wrapped tokens) to Bitcoin. When fewer than 75% of these coins outperform Bitcoin, it signals 'Bitcoin season'. A reading closer to 100 indicates a strong altcoin season, while a reading near zero signifies Bitcoin dominance.
The current index reading implies that Bitcoin has been outperforming most altcoins over the past three months. Historically, altcoin seasons have followed major Bitcoin rallies, but this trend is not yet evident in the data.