CandleFocus Bitcoin’s $100K Push Keeps Altcoin Season on Hold, Index at 32
2024-11-23
Author: Content Editor
The Altcoin Season Index, which measures the performance of the top 100 cryptocurrencies against Bitcoin, is currently at 32, indicating Bitcoin dominance in the crypto market. To signify an Altcoin Season, the index must be above 75. Bitcoin's continued strength, with analysts predicting a potential rise to as high as $315,000, is reflected in the index. However, some analysts see similarities between current trends and late 2020, suggesting a potential capital rotation into altcoins and the onset of an Altcoin Season if Bitcoin's dominance declines. The total altcoin market cap is approaching $492 billion, with the possibility of triggering significant FOMO among altcoin investors if it surges above this level. It is important to note that this article is for informational purposes only and does not constitute financial advice.
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