- The Altcoin season Index dropped to 35, signaling a stronger performance trend for Bitcoin.
- A gradual rise in the ASI indicates growing interest in altcoins, even with a stable $900B market cap.
- Historical trends show a low ASI of 13 in September and a balanced high of 50 in April this year.
The Altcoin Season Index (ASI) fell to 35, indicating a potential shift toward a Bitcoin season. This three-point drop suggests that Bitcoin’s market performance is strengthening relative to altcoins.
The ASI, tracked by CoinMarketCap (CMC), measures the performance of the top 100 cryptocurrencies (excluding stablecoins and wrapped tokens) over the past 90 days. An Altcoin Season occurs when at least 75% of these assets outperform Bitcoin. Conversely, Bitcoin Season occurs when fewer than 25% of altcoins outperform Bitcoin.
Index Trends and Market Dynamic
The ASI uses a score from 1 to 100 to indicate whether the market favors altcoins or Bitcoin. A score above 75 signals Altcoin Season, while a score below 25 indicates Bitcoin dominance.
Yesterday, the index was at 36, compared to 34 a week ago and 23 last month. The yearly high of 50, observed on April 9, reflected a balanced market. The annual low of 13 on September 3 showcased Bitcoin’s strength.
Despite the current score of 35, recent trends show a gradual upward movement. This could indicate a potential shift as investor interest in altcoins grows, even with Bitcoin maintaining its dominance.
Altcoin Market Cap Remains Steady
While the ASI has shown fluctuations, the Altcoin Market Cap (AMC) remains relatively stable. Over the last 90 days, the AMC has hovered around $900 billion with minor variations, suggesting that significant new capital inflows do not yet accompany the growing interest in altcoins.
Read also :Altcoin Season: 3 Reasons a Rally May Be Closer Than Expected
The divergence between the ASI and AMC highlights that the growing preference for altcoins may be driven by sentiment and trading activity rather than substantial changes in market capitalization.
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