The Altcoin Season is a period when alternative digital currencies (Altcoins) outperform Bitcoin, often due to increased market sentiment, rapid price rises, and growing dominance in the cryptocurrency market.
*To determine if the Altcoin Season has started:*
- We can look at the performance of the top altcoins compared to Bitcoin over the past 90 days.
- According to the Altcoin Season Index (CMC Altcoin Season Index), the Altcoin Season is defined as when 75% of the top 100 coins outperform Bitcoin.
*Current market sentiment:*
- The Altcoin Season Index (CMC Altcoin Season Index) provides real-time insights into whether the market is in Altcoin Season.
- Another index indicates that we are currently in "Bitcoin Season" with a score of 24, suggesting that Bitcoin dominates the market.
*Key characteristics of Altcoin Season:*
- *Increased dominance of altcoins*: Altcoins are gaining significance in the cryptocurrency market.
- *Rapid price increases*: Altcoins experience significant price surges, often exceeding Bitcoin's growth.
- *Fear of Missing Out (FOMO)*: Market sentiment is usually bullish, driven by optimism about potential returns.
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