Altcoin Season: Unveiling Bitcoin’s Dominant Grip on the Crypto Market
Main Idea
The crypto market is currently in Bitcoin Season, as indicated by CoinMarketCap's Altcoin Season Index score of 38, with Bitcoin outperforming most altcoins.
Key Points
1. The Altcoin Season Index score of 38 on July 16 indicates Bitcoin Season, where fewer than 25% of top altcoins outperform Bitcoin.
2. The index operates on a scale from 1 to 100, with scores below 25 indicating Bitcoin Season and above 75 indicating Altcoin Season.
3. Bitcoin's current dominance is influenced by multiple factors, leading to most altcoins underperforming.
4. Altcoin Seasons are cyclical and historically triggered by specific market conditions, such as those seen in 2017 and 2021.
5. Investors should adjust their strategies based on the current Bitcoin-dominated market while preparing for potential shifts in trends.
Description
BitcoinWorld Altcoin Season: Unveiling Bitcoin’s Dominant Grip on the Crypto Market Are you wondering why your favorite altcoins aren’t soaring while Bitcoin seems to be holding its ground? The latest data from CoinMarketCap’s Altcoin Season Index offers a compelling answer. Registering at a score of 38 on July 16, 00:30 UTC, this key metric signals a clear shift: the crypto market is currently deep in what’s known as Bitcoin Season . This score, a seven-point increase from the previous day’s fi...
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