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I just looked — the altcoin season index on CoinMarketCap is still stuck at 38. It’s been two days without any movement. It seems the altcoin market really isn’t in a hurry to overtake Bitcoin.
For those who aren’t aware: this altcoin season index tracks how the top 100 cryptocurrencies (excluding stablecoins and wrapped tokens) have performed against Bitcoin over the past 90 days. If the index is rising — it means altcoins are starting to gain, if it’s falling — Bitcoin is dominating.
Right now, the altcoin season index is stuck at 38, indicating weakness in altcoins relative to the leader. It’s interesting to see how long this will last. Maybe a real altseason will start soon, or is it too early to hope?