Billionaire Binance Founder Says ‘FOMO Season Soon’ as Altcoin Index Starts Ticking Up
Main Idea
Binance founder Changpeng 'CZ' Zhao notes the Altcoin Season Index is rising, suggesting a potential FOMO-driven altcoin rally, though indicators suggest it hasn't fully started yet.
Key Points
1. CZ highlighted the Altcoin Season Index's upward trend, currently at 51 (up from 16 a month ago), but it needs to reach 75+ to confirm an 'Altcoin Season.'
2. The index tracks whether altcoins outperform Bitcoin over 90 days; recent momentum shows altcoins like Ethereum (+110%), BONK (+148.7%), and FLOKI (+119.1%) surging.
3. Some lower-cap altcoins (e.g., PENGU, M) have gained over 500% in 90 days, but Bitcoin dominance remains high at 61%.
4. Market observers note that key bull market indicators (e.g., Puell, MVRV Z-Score) haven't triggered yet, suggesting the altcoin season may not have fully begun.
5. The total crypto market cap has grown from $3 trillion to $3.8 trillion, reflecting increased liquidity and interest.
Description
Binance founder Changpeng “CZ” Zhao has pointed out that CoinMarketCap’s Altcoin Season Index is starting to climb, predicting that an altcoin rally might be imminent. Key Takeaways: Binance founder CZ says the Altcoin Season Index is ticking up, hinting at a possible FOMO-driven rally. The index has climbed to 51, up from 16 last month, signaling rising momentum toward altcoins. Ethereum and meme coins are leading gains, mirroring past cycles where altcoins outperformed Bitcoin. “Not sure how a...
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