Altcoin Season Index Declines to 29, Reflecting Market Shift

According to BlockBeats, the Altcoin Season Index has dropped to 29, as reported by Coinmarketcap data. This marks a significant decrease from its peak of 78 on September 20. Last week's average was 51, while last month's average stood at 71. The index indicates that in the past 90 days, approximately 29 out of the top 100 cryptocurrencies by market capitalization have outperformed Bitcoin. The CMC Altcoin Season Index serves as a real-time indicator to assess whether the cryptocurrency market is currently dominated by altcoins. It evaluates the performance of the top 100 altcoins relative to Bitcoin over the past 90 days.