Recently, there have been rallies in some altcoins, with Ethereum seeing some recovery as well, pushing the idea of an alternative season. With the likes of Hyperliquid rising to all-time highs, this has pushed some of the top 100 altcoins by market cap to outperform Bitcoin during this time. As more Altcoins continue to outperformDoes this mean another alternate season has begun? This report takes a look at what the data says.
The Altcoin Season Index stands at 36 degrees
The Altcoin Season Indicator has historically been the indicator that tells us when the cryptocurrency market is going Entered alternate season. According to the index, it measures the performance of the top 100 altcoins against Bitcoin’s performance over a 90-day period and then plots that via a score from 1 to 100 to show when the market has entered altcoin season.
Historically, the higher the score, the more likely it is that the cryptocurrency market will experience an alternative season. This usually means that Bitcoin’s outperformance has ceased, and that its dominance over the rest of the cryptocurrency market has declined significantly.
Currently, the Altcoin Season Index reads 36, according to Data From the Coinglass website. also, Bitcoin dominance It began to recover again over the weekend, rising above 59.88% by Sunday. Of course, none of this bodes well for an alternate season.
Anatomy of data for an alternate season
With the Altcoin Season Index reaching such a low of 36, it means that the market is actually not that hot Experiencing an alternate season. Typically, an altcoin season starts with a score above 75. This means that 75% of the top 100 altcoins perform better than Bitcoin in a 3-month timeframe to achieve this.
Additionally, Bitcoin’s dominance in the cryptocurrency market has continued to rise rather than fall. This is a sign that the market is not actually moving into altcoin season. That would It only happens when Bitcoin’s dominance starts to collapseThe dominance of altcoins began to rise.
Looking at the data, it suggests that the marches may be for some Altcoins are just instant spikes. Ethereum has also underperformed compared to Bitcoin during this time, and being the historical leader of altcoin season, Ethereum will have to start outperforming Bitcoin to kick off the next alt season.
Featured image from Dall.E, chart from TradingView.com
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