🚨NEWS IN: ALTS LOSE MOMENTUM AS ALTSEASON INDEX PLUMMETS TO 34🔥🔥🔥
On October 12th, Market data reveals a significant cooling in the altcoin market. The Altcoin Season Index has sharply declined to a reading of 34, a stark drop from its weekly average of 59 and a far cry from its recent peak of 78 in September.
This metric indicates that within the last 90 days, only about 34% of the top 100 cryptocurrencies have outperformed Bitcoin. This signals a clear shift away from the broad, risk-on sentiment that typically characterizes an "altseason." Instead of a rising tide lifting all boats, capital appears to be consolidating, with momentum waning for many alternative assets.
This pullback is reflected across various major altcoins. Established projects like Cardano ($ADA ) and Avalanche ($AVAX ), alongside meme coins such as Dogecoin (DOGE) and Shiba Inu ($SHIB ), have all seen their performance lag significantly behind Bitcoin's dominance. The current climate suggests a period of caution and selectivity for altcoin investors.
NOT financial advice, DYOR. #Follow4more
Source: Lookonchain