Bitcoin Dominance Strengthens as Altcoin Season Index Drops to 45

The Altcoin Season Index has dropped to 45, down from 52 the previous day, indicating a continued shift towards Bitcoin dominance in the cryptocurrency market.

The index measures whether altcoins are outperforming Bitcoin and is calculated by comparing the price performance of Bitcoin against the top 100 cryptocurrencies by market capitalization, excluding stablecoins and wrapped tokens.

A reading below 50 suggests that Bitcoin is likely to continue outperforming altcoins in the near term, which may influence portfolio allocation strategies.

The decline in the Altcoin Season Index comes at a time when Bitcoin's market dominance has been steadily increasing, currently hovering around 55% according to data from TradingView.