Altcoin Season Continues to Decline: Alt Coins Outperform Bitcoin by Only 17%

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The altcoin market is going through a difficult period, with the Altcoin Season Index currently at only 17 according to the latest data from CoinMarketCap as of December 21. This figure clearly reflects a bearish market sentiment, with only 17 out of the top 100 altcoins by market capitalization outperforming Bitcoin in the past 90 days.

Sharp Decline of Alt Coins from Their Peak

To better understand the current difficulty level, just look at the decline from the peak. The Altcoin Season Index has plummeted from 78 on September 20 to 17 today, indicating a significant downturn. The current weekly average stands at 21, showing that this is not just temporary volatility but a prolonged trend.

Measurement Mechanism and Significance of the Index

CoinMarketCap’s Altcoin Season Index works by comparing the performance of the top 100 altcoins with Bitcoin to assess the altcoin market. When the index is low, it means altcoins are unable to keep up with Bitcoin’s strength, reflecting Bitcoin’s dominant position in the market.

Altcoins Still Under Pressure in the Face of Bitcoin’s Dominance

Current analysis shows that altcoins continue to face difficulties in a market dominated by Bitcoin’s overwhelming strength. This trend indicates that investors are focusing their capital on Bitcoin, while altcoins have yet to attract enough interest to break out significantly.

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