Altcoin Season Index Holds at 32, Market Remains Firmly in “Bitcoin Season”

• Altcoin Season Index remains low at 32, signaling continued Bitcoin market dominance.
• Recent altcoin gains show mild recovery but fail to trigger a broader market shift.
• Chart pattern mimics 2021’s double fakeout, hinting at potential altcoin breakout ahead.

The long-awaited “altseason” has not yet officially started, with a key market indicator showing Bitcoin is still firmly in control. However, technical analysts are now pointing to a compelling chart pattern that looks nearly identical to the setup that preceded the explosive 2021 altcoin rally.

Crypto Data: Still “Bitcoin Season” For Now

The Altcoin Season Index stood at 32 as of 00:30 UTC on July 15, a figure that confirms the market remains in “Bitcoin Season.” This index, tracked by CoinMarketCap, measures whether 75% of the top 50 altcoins have outperformed Bitcoin over the past 90 days. A score of 75 or above is needed to declare the start of an “Altcoin Season.” 

The current reading of 32 indicates that fewer than one-third of leading altcoins are currently beating Bitcoin. While the index has risen from a yearly low of 12 back in April, the momentum has not yet been…

The post Altcoin Season Index Holds at 32, Market Remains Firmly in “Bitcoin Season” appeared first on Coin Edition.