The dominant digital asset appreciated slightly as rival cryptocurrencies such as ether and XRP eased after a multiday altcoin rally.
BTC Ticks Upward as Altcoins Retreat
What goes up must come down, and that was the case on Tuesday as the altcoin rally that kicked off last week started showing signs of slowing. The two big alts, ether ( ETH) and XRP, were both down 1.40% and 2.20% respectively at the time of writing, according to data from Coinmarketcap. Conversely, bitcoin (BTC) inched up by roughly 0.81% since yesterday, going against the grain in a market that is currently down 0.42% overall.
There were only two cryptocurrencies in the black out of the top ten largest coins, BTC and solana ( SOL). The rest of the pack saw small to medium declines in price, cooling somewhat after a multiday rally that started last week and pushed Coinmarketcap’s Altcoin Season Index to 56. The index pits the price performance of the top 100 cryptocurrencies against bitcoin’s performance over 90 days. Once the index hits 75, altcoin season has officially begun. For now, the index is sitting at 50, after bitcoin reclaimed some of the market share it lost over the past few days.
