According to CoinMarketCap data reported on December 26, the Altcoin Season Index has retreated to 17, down slightly from 18 a day earlier. This index gauges how the top 100 cryptocurrencies are performing relative to Bitcoin over a 90-day window.
The current reading of 17 indicates an extremely weak altcoin season, with only around 17 projects from the top 100 managing to outpace Bitcoin during this period. This marks a dramatic decline from the index’s peak of 78 registered back on September 20, suggesting that Bitcoin’s dominance has strengthened considerably since then.
The persistently low index reading reflects the challenging market conditions for alternative cryptocurrencies, with Bitcoin maintaining its lead as investors continue to favor the leading digital asset over the broader altcoin market.
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Altcoin Season Index Dips to 17, Signals Weak Market Performance Against Bitcoin
According to CoinMarketCap data reported on December 26, the Altcoin Season Index has retreated to 17, down slightly from 18 a day earlier. This index gauges how the top 100 cryptocurrencies are performing relative to Bitcoin over a 90-day window.
The current reading of 17 indicates an extremely weak altcoin season, with only around 17 projects from the top 100 managing to outpace Bitcoin during this period. This marks a dramatic decline from the index’s peak of 78 registered back on September 20, suggesting that Bitcoin’s dominance has strengthened considerably since then.
The persistently low index reading reflects the challenging market conditions for alternative cryptocurrencies, with Bitcoin maintaining its lead as investors continue to favor the leading digital asset over the broader altcoin market.