Altcoin Season Index Update: Significant Shifts Following Recent Decline

crypthub

1 day ago

Altcoin Season Underperformance

The cryptocurrency market indicates that altcoins are currently underperforming compared to Bitcoin. CoinMarketCap’s Altcoin Seasonal Index stands at 34/100, signaling a “Bitcoin Season” trend. This represents a decline from previous weeks and months, and significantly lower than the annual peak. The index measures the performance of the top 100 cryptocurrencies relative to Bitcoin over the last 90 days.

Notable Gains Amidst Market Shifts

Despite the overall underperformance, certain altcoins have seen substantial gains. MYX led with a 3975.47% increase, followed by ASTER and ZEC. While Bitcoin experienced a 7.73% decrease in the last 90 days, some altcoins like BNB and ETH managed to show positive performance.

Bitcoin's Relative Strength

The recent market decline has shifted the balance, causing Bitcoin to comparatively outperform many altcoins. Though several altcoins previously outperformed Bitcoin, the recent downturn has lessened that trend. This shift highlights the current "Bitcoin Season" dynamic within the cryptocurrency landscape.