Altcoins (Alternative Cryptocurrencies) are often influenced by Bitcoin, typically due to increased market sentiment, rapid price increases, and an increase in their dominance in the cryptocurrency market.
*To determine if the altcoin season has begun:*
- 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), altcoin season is defined as when 75% of the top 100 cryptocurrencies 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