While bitcoin is rapidly increasing in value, many alternative cryptocurrencies have surpassed it, sparking speculation that the altcoin season may be approaching.

Speculation surrounds 'Altcoin Season'

This week, bitcoin has continuously broken its own all-time high, even reaching new peaks multiple times today. While bitcoin has shown significant value increases in US dollars, some alternative digital currencies have surged even more. For example, cronos (CRO) skyrocketed 33% in the past day and dogecoin (DOGE) rose 20% in the last 24 hours. Many digital assets are enjoying double-digit growth, pushing the entire cryptocurrency economy to a valuation of $2.86 trillion, up over 3% today.

On the social media platform X, an account named 'Mags' shared with 93,800 followers that, "Altcoin – this will be the greatest altcoin season of all time." Another X account named 'Sensei' told 60,300 followers that, "The altcoin season will start from November to March 2025." Another user claimed, "The altcoin season has arrived!" But is it really the case? That is the question everyone is asking. According to the Altcoin Season Index (ASI) hosted on blockchaincenter.net, "this is not the altcoin season."

As of Monday, shortly after 2 PM Eastern Time, BTC surged past the $86,000 mark. At the same time, the current ASI score is 37. To officially become an "altcoin season," the ASI score needs to reach 75 or higher—which means that 75% of the top 50 coins have outperformed bitcoin over the past 90 days. There are still 38 percentage points left to transition from bitcoin season to the coveted altcoin season. However, the biggest leader among the leaders in the previous season or the last 90 days is SUI (SUI).

SUI has risen more than 245% in the recent season, followed closely by dogecoin (DOGE) with a 215% increase. While the ASI from blockchaincenter.net is rising slowly, in the crazy world of cryptocurrency, all this can change in an instant. With bitcoin's price surge hitting new records and altcoins generating even higher returns, excitement around a potential altcoin season is growing. Although the ASI still favors bitcoin, speculation and significant gains of coins like DOGE and SUI signal that market momentum may be shifting, hinting at a possible change in the dynamics of the cryptocurrency economy.
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