Altcoin seasonal index drops below 25 years old, indicating Bitcoin season despite recent runs

The AltCoin seasonal index measures performance against Bitcoin’s top altcoins in 90 days.

Crypto Rover shares two different charts on X, revealing some compelling trend shifts. The first chart is the focus of recent hot discussion - Altcoin season. It shows the Altcoin Seasonal Index, which measures how top altcoins perform relative to Bitcoin over 90 days. This specific data comes from blockchaincenter.net, measuring the top 50 best-performing altcoins, excluding any stablecoins or asset-backed tokens.

Regarding the AltCoin Season Index, if the top 50 Altcoin perform better than Bitcoin in the past 90 days, it will enter the official Altcoin season. In short, an index of over 75 points indicates an altcoin season, while a 25 point indicates a Bitcoin season.

Interestingly, the Altcoin season index is below 25 points, which indicates that it is Bitcoin season, but the publisher reminds you not to be misled by this. Given that Altcoins has performed well lately, this may make sense. For example, AltCoins currently accounts for 42.5% of the total cryptocurrency market capitalization, up from 38.2% a week ago, while Bitcoin’s market share fell to 54.3% during the same period.

In addition, Altcoins' total market value has soared 12.7% to $11.18 trillion over the past seven days. Most major Altcoins prices rose by about 40%, and there was also significant increase in trading volumes. For example, ETH trading volume reached $28.4 billion, an increase of 18% from the previous day.

This brings us to the second chart, which is related to Bitcoin. Two days ago, a significant negative peak was seen on the Bitcoin exchange net traffic, with approximately 35,000 BTC withdrawing from the platform (at the time it was about $3.5 billion).

This may indicate that there may be changes in investor behavior, which may mean that large holders or institutions transfer assets to cold storage. But it may also coincide with the altcoin season, as whales withdrawing bitcoin may plan to diversify it into altcoins.

These withdrawals reduce BTC’s instant trading liquidity and may limit the decline while driving prices up.

Of course, this is just speculation at the moment, and we may have more to learn about in the next few days and weeks. That said, many crypto enthusiasts believe that the Altcoin season is coming, and there is no denying that most Altcoins are doing very well right now.

The above is the detailed content of Altcoin seasonal index drops below 25 years old, indicating Bitcoin season despite recent runs. For more information, please follow other related articles on the PHP Chinese website!