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Altcoin Season Index Declines as Bitcoin Dominance Rise

Altcoin Season Index Declines as Bitcoin Dominance Rise

HappyCoinNewsHappyCoinNews2024/11/17 01:44
By:HappyCoinNews

Altcoin Season Index (ASI) fell to 35, indicating that Bitcoin's market performance is improving compared to other cryptocurrencies.

The ASI, which is tracked by CoinMarketCap, measures the performance of the 100 largest cryptocurrencies (excluding stablecoins and wrapped tokens) over the past 90 days. Altcoin season occurs when at least 75% of these assets outperform. Bitcoin . Conversely, Bitcoin season should be expected when less than 25% of altcoins outperform the flagship cryptocurrency.

Altcoin Season Index Declines as Bitcoin Dominance Rise image 0

Altcoin Season Index and market capitalization of assets

On the eve altcoin season index was 36 compared to 34 the week before. In October, this figure remained at 23. The yearly high of 50 was recorded on April 9 and reflected the market balance. The low of 13 occurred on September 3 and demonstrated the strength of Bitcoin.

Despite the current ASI at 35, investor interest in altcoins is growing. The total market capitalization of this asset class also remains relatively stable. Over the past 90 days, it has been at $900 billion. According to experts, the discrepancy between the altcoin season index and its market capitalization most likely speaks about the mood of investors and their trading activity.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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