Bitcoin’s $100K Push Keeps Altcoin Season on Hold, Index at 32
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- The Altcoin Season Index at 32 indicates that Bitcoin currently dominates the market.
- A slight increase in altcoin performance suggests the potential for a shift in market dynamics.
- Bitcoin nearing $100,000 and the altcoin market cap approaching $492 billion may trigger altseason.
The crypto market is under Bitcoin dominance, as reflected in the Altcoin Season Index recorded by CoinMarketCap. On November 23, 2024, at 00:30 UTC, the index stood at 32, well below the threshold of 75 required to signify an Altcoin Season.
The Altcoin Season Index measures the performance of the top 100 crypto assets (excluding stablecoins and wrapped tokens) against Bitcoin over a 90-day period. A score below 25 indicates Bitcoin Season, while a reading above 75 signifies Altcoin Season.
For the market to enter Altcoin Season, at least 75% of the top 100 coins must outperform Bitcoin during the specified timeframe.
The Altcoin Season Index has fluctuated throughout the year, reflecting shifts in market momentum.
- November 22: Score of 28
- One week ago: Score of 41
- One month ago: Score of 37
- April 9, 2024: Peaked at 50, the year’s highes…
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