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The alt season index has fallen significantly to 22 points: only 22 coins outperformed Bitcoin.
The latest data from 【币界】 shows that the Altcoin Season Index is currently at 22 points. Looking back at September 20, this index once surged to a high of 78, while the average level last week hovered around 24.
What does this number mean? Simply put, it means that in the past 90 days, only about 22 of the top 100 cryptocurrency projects by market capitalization have outperformed Bitcoin.
To add some background: Coinmarketcap's alts season index is a real-time tracking tool specifically designed to determine whether the market is dominated by Bitcoin or if alts are having a collective celebration. The algorithm is straightforward - it looks at the performance of the top 100 alts relative to BTC over the past three months.
From 78 to 22, this pullback is quite severe.