News Scrap

• The Altcoin Season Index saw a major spike for the first time since April.
• Bitcoin remained dominant despite the spike.

The cryptocurrency market is witnessing dynamic shifts as the Altcoin Season Index climbs to 59, suggesting a potential transition towards an altcoin-dominated cycle.

Bitcoin’s[BTC] dominance, while still strong at 57.3%, has slightly declined, hinting at increased investor interest in alternative assets.

Rising altcoin season index

The Altcoin Season Index, which measures the performance of altcoins relative to Bitcoin, recently rose to 59.

Analysis of the chart showed that the index recently spiked from 33, nearing the threshold of 75 that officially signals an altcoin season.