CoinMarketCap's Altcoin Season Index Hits 28

CoinMarketCap's Altcoin Season Index has increased by 2 points to 28. Although this rise indicates some improvement in altcoins' performance against Bitcoin, the overall outlook remains far from an altcoin season.

The index measures the top 100 cryptocurrencies by market capitalization and compares their performance over the past 90 days to that of Bitcoin. Stablecoins and wrapped tokens are excluded from the calculation.

For an altcoin season to be considered underway, at least 75% of the top 100 cryptocurrencies must outperform Bitcoin over the past 90 days. If this condition is not met, the market is in a Bitcoin season.

The current index value of 28 shows that altcoins have not established broad dominance yet.