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Altcoin Season Index Falls to 48 After September Peak of 78

Altcoin Season Index Falls to 48 After September Peak of 78

The Altcoin Season Index has sharply declined to 25, showing a marked decrease in altcoin performance and reinforcing Bitcoin's dominance in the market.

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Fact Check
The statement is strongly supported by the evidence. Source 10 (Phemex) directly confirms all parts of the claim, stating, 'The Altcoin Season Index has dropped to 48... marking a significant decline from its peak of 78 on September 20.' Source 9 (Binance) corroborates the peak of 78 in September, reinforcing the claim's accuracy. Although Source 13 mentions a different peak value, the weight of corroborating evidence from more direct sources supports the original statement.
    Reference: 123
Summary

The CoinMarketCap Altcoin Season Index has fallen to 25 on October 17, down from 78 on September 20, reflecting a significant shift towards Bitcoin dominance. Over the past 90 days, 25 of the top 100 cryptocurrencies outperformed Bitcoin, highlighting a shift in market trends.

Terms & Concepts
  • Altcoin Season Index: A metric by CoinMarketCap that measures whether the market is dominated by altcoins, based on how many of the top cryptocurrencies outperform Bitcoin over a given period.
  • Market Capitalization: The total value of a cryptocurrency, calculated by multiplying its current price by its circulating supply.
  • Altcoin: Any cryptocurrency other than Bitcoin, often created to provide alternative use cases or features.