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Altcoin Season Index plummets, Bitcoin dominance strengthens market control
According to data published by CoinMarketCap, as of December 21, the Altcoin Season Index has fallen to a low level of 17. This marks a dramatic decline from the peak of 78 on September 20, indicating a clear bearish sentiment across the market. The average over the past week has been around 21, revealing that the altcoin market remains stagnant.
Stagnation Amidst Growing Bitcoin Dominance
The number 17 suggested by the index indicates that only 17 altcoins out of the top 100 by market cap have outperformed Bitcoin over the past 90 days. In other words, the vast majority of altcoins are struggling.
The CoinMarketCap Altcoin Season Index functions as a tool to visualize how competitive the top 100 altcoins are relative to Bitcoin. A low index value directly suggests that Bitcoin dominance is strengthening further, reflecting that market capital flows are still heavily concentrated in Bitcoin.
Recent market observations indicate that, in an environment led by Bitcoin, the overall altcoin sector remains at a disadvantage. Until this trend improves, it is expected that altcoin investors will face a challenging period.