Dominant Bitcoin Season: Altcoin Season Index Plummets to 18 – What’s Next for Crypto Market?

The cryptocurrency market is a dynamic and ever-shifting landscape, constantly oscillating between periods of Bitcoin dominance and altcoin surges. Understanding these cycles is crucial for navigating the crypto space effectively. Currently, the spotlight is firmly on Bitcoin Season, as indicated by the latest Altcoin Season Index reading.

What is the Altcoin Season Index and Why Does it Matter?

The Altcoin Season Index is a valuable tool developed by CoinMarketCap (CMC) to gauge the prevailing sentiment in the cryptocurrency market. It essentially tells us whether Bitcoin is outperforming altcoins, or vice versa. Think of it as a crypto weather vane, pointing towards the dominant trend.

Here’s a breakdown of what the index measures and why it’s significant:

Measurement: The index analyzes the top 100 cryptocurrencies (excluding stablecoins and wrapped tokens) listed on CMC over the past 90 days.

Comparison: It compares the performance of these altcoins against Bitcoin.