Altcoin Season Indicators Strengthen as Bitcoin Loses Market Share
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- Bitcoin dominance breaks long-term trendline as altcoin season index rises to 60.
- Altcoin market cap hits $1.6T with MACD turning bullish, signaling momentum shift.
- Glassnode data shows falling profits and low volatility, hinting at sudden market moves.
Bitcoin’s market dominance has dropped to about 57%, a move analysts say could mark the start of a new cycle favoring altcoins. The decline comes alongside a surge in the CMC Altcoin Season Index, which climbed to 60 out of 100, up sharply from 36 a month ago. The index’s rise suggests that investor demand is rotating away from Bitcoin into alternative cryptocurrencies.
Over the past three months, altcoin market capitalization expanded from $1.2 trillion in June to nearly $1.6 trillion by late August. The index peaked in July, saw a brief pullback, and has since resumed its upward climb. Historical readings highlight the momentum: 54 one week ago, 56 yesterday, compared with just 36 last month.
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The post Altcoin Season Indicators Strengthen as Bitcoin Loses Market Share appeared first on Coin Edition.
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Altcoin Season Indicators Strengthen as Bitcoin Loses Market Share
Share:
- Bitcoin dominance breaks long-term trendline as altcoin season index rises to 60.
- Altcoin market cap hits $1.6T with MACD turning bullish, signaling momentum shift.
- Glassnode data shows falling profits and low volatility, hinting at sudden market moves.
Bitcoin’s market dominance has dropped to about 57%, a move analysts say could mark the start of a new cycle favoring altcoins. The decline comes alongside a surge in the CMC Altcoin Season Index, which climbed to 60 out of 100, up sharply from 36 a month ago. The index’s rise suggests that investor demand is rotating away from Bitcoin into alternative cryptocurrencies.
Over the past three months, altcoin market capitalization expanded from $1.2 trillion in June to nearly $1.6 trillion by late August. The index peaked in July, saw a brief pullback, and has since resumed its upward climb. Historical readings highlight the momentum: 54 one week ago, 56 yesterday, compared with just 36 last month.
Related: Is Altcoin Season Here? Bitcoin Dominance Drops as Institutional Futures Volume Hits Record High
Why Bitcoin’s Break in Dominance Trendline Matters
Charts tracking Bitcoin…
The post Altcoin Season Indicators Strengthen as Bitcoin Loses Market Share appeared first on Coin Edition.
In This News
Coins
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In This News
Coins
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Read More
Crypto News: Bank of America’s ‘Positive’ 4% Call Sounds Bullish, but Why Now?