Market Analysis: Divergence from Bitcoin
Cryptocurrency analytics company Alphractal has reported that momentum in the altcoin market is gradually diverging from Bitcoin, with the altcoin season index showing an upward trend.
According to Alphractal’s analysis, an increasing number of altcoins have begun to outperform Bitcoin over the past 60 days. This indicates a gradual shift in market momentum towards altcoins.
Prominent Outperforming Altcoins
Alphractal's analysis identifies several prominent projects currently outperforming the overall market in the recent bull run. These include CHZ, PEPE, ORDI, BAT, RENDER, STX, SUI, ETH, BNB, SOL, XTZ, TRX, FET, AAVE, and LINK.
Altcoin Season Index: Early Signals
Data from CoinMarketCap's altcoin season index suggests the market is still largely dominated by Bitcoin. The current index value stands at 28 out of 100. This is a slight increase from yesterday's measurement of 31, compared to 23 last week and 21 last month.
While the threshold for a full "altcoin season" has not yet been crossed, this upward movement is interpreted as the first signals that a change in market direction has begun.