The altcoin season is a period when alternative cryptocurrencies (Altcoins) outperform Bitcoin, often due to increased market sentiment, rapid price increases, 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 indicator suggests that we are currently in "Bitcoin season" with a score of 24, indicating that Bitcoin is dominating 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 spikes, often exceeding Bitcoin's growth.
- *Fear of missing out (FOMO)*: Market sentiment is usually bullish, driven by optimism about potential returns.
$BNB
