Altcoin Season Index Drops to 34 Amid Bitcoin Dominance

The Altcoin Season Index, calculated by cryptocurrency data platform CoinMarketCap, dropped 4 points to 34 compared to the previous day. The index compares the price movements of the top 100 cryptocurrencies (excluding stablecoins and wrapped coins) against Bitcoin's performance over a 90-day period. An 'Altcoin Season' is defined when 75% of the top 100 coins have outperformed Bitcoin in the last 90 days; otherwise, it's considered a 'Bitcoin Season.' The index approaches 100 during strong altcoin market conditions.