“Altcoin Season Hasn’t Started Yet” Analyst Reveals Despite August Rally Hopes
Main Idea
The article discusses the current state of the cryptocurrency market, focusing on Bitcoin's dominance and the lack of a significant altcoin season, with analysts providing insights into market trends and performance.
Key Points
1. An analyst noted that the market is experiencing the 'weakest altcoin year,' with few lower-capped altcoins outperforming Bitcoin.
2. Michael Van De Poppe highlighted that only 33% of altcoins are currently outperforming Bitcoin, based on the altcoin index from CoinMarketCap.
3. The article mentions that 77% of the top 100 cryptocurrencies are not outperforming Bitcoin at this time.
4. Bitcoin's dominance and the lack of a strong altcoin season are key themes in the current market analysis.
Description
Altcoin season, a period when alternative assets secure more gains than the apex cryptocurrency Bitcoin, has been a hot topic for months.
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