Altcoin Season Index Rises to 48: Neutral Market Seen Between Bitcoin and Altcoins
The Altcoin Season Index (ASI) has risen to 48, creating a neutral market environment between Bitcoin and altcoins. This shows that altcoins are regaining strength, but Bitcoin still seems to be dominating the market. Analysts predict that the Altcoin Season could begin in 2025. With these developments, Crypto Capo, an analyst known for his bear market, is bullish on AXS Coin and ALGO Coin.
Crypto Capo Expects Bullish Price for AXS Coin and ALGO Coin!
While the market is following a volatile course, analysts are sharing their views on these ups and downs. Popular analyst Crypto Capo, known for his bear market comments, has recently made positive predictions for altcoins. In this context, the analyst predicts that the price of Axie Infinity (AXS Coin) will experience a significant increase in the short term. Crypto Capo sets his first target for AXS Coin as $11-13, and states that if it passes this level, the second target will be $46. The analyst made the following statements on the subject:
“If there is a gaming craze, I want to take advantage of it. The first target for AXS Coin will be $11-13. If it breaks this level, we can move towards our second target of $46. However, it is important to take it step by step.”
Another altcoin that he is bullish on is Algorand (ALGO Coin). Crypto Capo is also quite optimistic about ALGO Coin. The analyst predicts that ALGO will increase by nearly 100 percent and reach $0.766.
Altcoin Seasonal Index (ASI) Rises: Neutral Period Between Bitcoin and Altcoins
The Altcoin Season Index rose to 48 as of December 26, 2024, an increase compared to the previous day. This shows that the market is in a neutral phase between Bitcoin and altcoins. ASI tracks the performance of the top 100 cryptocurrencies over the past 90 days and reveals that altcoins are gaining strength but Bitcoin still maintains its market leadership.
The index has experienced various fluctuations in the past month. After reaching a peak of 52 earlier in the month, the index fell to 47 last week before recovering on December 26. This pattern reflects a period of consolidation in which Bitcoin and altcoins compete for dominance. In addition, the yearly high of 87 recorded on December 4, 2024, indicates the short-term superior performance of altcoins, while the low of 13 seen on September 3, 2024, emphasizes Bitcoin’s market dominance during that period.