#MarketPullback

Altcoin Season Chances Are Declining, But 3 Indicators Point to a Possible Rebound

On December 4, the Altcoin Season Index hit 88, suggesting that non-Bitcoin cryptocurrencies may be outperforming the former. However, the altcoin season chances may have taken a hit.

However, it looks like the highly anticipated season may be back again. Here are three indicators that suggest several of the top 50 cryptocurrencies could soon see significant gains.

Altcoins Decline Again

Altcoin season refers to a period when altcoins outperform Bitcoin in terms of market cap growth. The Altcoin Season Index measures this trend, determining whether 75% of the top 50 cryptocurrencies are outperforming Bitcoin.

Typically, an index value above 75 indicates the start of an altcoin season, while a value of 25 reflects Bitcoin dominance. However, so far, the index has fallen to 49, highlighting a setback for altcoins as Bitcoin regains a stronger foothold in the market.

But despite the decline, the altcoin season doesn’t seem to be over. One indicator that points to this is Bitcoin’s dominance.