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In the last 90 days, 21 cryptocurrencies outperformed BTC, including DOGE and ADA.
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Bitcoin dominance fell to levels of 59% today.
While the price of Bitcoin (BTC) approaches $100,000, the dominance of this crypto asset over the altcoins has fallen for the third consecutive day. Currently, according to data provided by the financial analysis platform TradingView, this measurement fell to levels of 59%.
Bitcoin dominance is calculated by dividing the Bitcoin market capitalization by the total cryptocurrency market capitalization. When Bitcoin dominance is high, it indicates that much of the money in the market is concentrated in this cryptocurrency.
Conversely, a drop in dominance suggests that investors are diversifying toward altcoinssuch as Dogecoin (DOGE), Cardano (ADA), Solana (SOL), among others.
Is the cryptocurrency altseason coming?
Although three red candles they don’t seem to be enoughif BTC dominance continues to decline, investors could begin to speculate on a Altcoin Season (altseason).
The term “altseason» refers to a period in which the altcoins experience a significant increase in their value and trade volume, surpassing the profitability of Bitcoin within 3 months.
In this sense, according to data from the Blockchain Center, in the last 90 days only 21 cryptocurrencies surpassed in market performance to bitcoin. The five that left the best profitability are: Stellar (XLM), DOGE, Mantra (OM), Sui (SUI) and ADA.
To determine that a altseasonthis site indicates that if 75% of the top 50 cryptocurrencies performed better than Bitcoin in the last season (90 days), it is considered an Altcoin Season (this statistic excludes stablecoins and the tokens such as WBTC or stETH).
Added to this, the Altcoin Season Index measures whether the market is in a Altcoin Season. If the index is greater than 75, it indicates a alteasonwhile values below 25 reflect a Bitcoin Season, where Bitcoin dominates in performance.
This index currently has a value of 43, suggesting that bitcoin remains strong against most altcoinsalthough some have shown better performance.
In this way, the next few days or weeks could be important to determine if this trend consolidates or if, on the contrary, Bitcoin continues the dominant path against the altcoins.