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Altcoins Under Pressure as Bitcoin Market Dominance Rises
Recent data shows that altcoins are experiencing significant pressure amid Bitcoin’s increasing dominance. The CoinMarketCap Altcoin Season Index records a score of 25, a decrease of 4 points, reflecting a market condition that favors Bitcoin more than other altcoins.
Altcoin Season Index Reaches New Level
According to data tracked by NS3.AI, the Altcoin Season Index is designed to measure the relative performance of the top 100 coins by market capitalization against Bitcoin over the past 90 days. The current score of 25 indicates that Bitcoin consistently outperforms the majority of altcoins in its class. This 4-point decline suggests a shifting momentum toward Bitcoin, while altcoins face challenges in matching the performance of this leading cryptocurrency.
Implications for Altcoin Traders
This condition has important implications for investors focusing on altcoins. When the Altcoin Season Index is at a low level like this, it signals that altcoins as a whole are underperforming compared to Bitcoin. For traders, this serves as a reminder to be more selective when choosing altcoins, as not all altcoins can compete with Bitcoin’s strength and dominance in the current market.