The Altcoin Season Index hits 84 as ETH, SOL, DOGE, and XRP surge, surpassing Bitcoin’s gains and signaling a strong market shift.
The Altcoin Season Index has surged to 84, signaling a shift in market momentum as Ethereum, Solana, Dogecoin, and XRP lead the charge. This marks the start of altcoin season, with these cryptocurrencies outperforming Bitcoin in the current cycle.
Altcoin Season Index Reaches 84
The Altcoin Season Index has climbed to 84, confirming that altcoins are dominating the market. This is a significant jump, as it reflects a broader trend where altcoins are outperforming Bitcoin, which has been the leader for months.
The 75% threshold was surpassed, indicating a strong shift towards riskier assets offering potentially higher returns. This change suggests that many investors are rotating their capital from Bitcoin into altcoins, driving up their market value.
The shift has been reinforced by positive price movements in popular altcoins such as Ethereum, Solana, and Dogecoin. According to Blockchain Center, the Altcoin Season Index is calculated based on the performance of altcoins relative to Bitcoin. When the index surpasses 75, it signals a full-blown altcoin season. The current momentum supports this view, with altcoins like XRP seeing significant gains.
Altcoin Leaders Drive the Rally
Ethereum, Solana, Dogecoin, and XRP are leading the rally as the Altcoin Season Index hits new heights. XRP has surged by 12% in the past week, trading above $3.15. Ethereum is holding strong above $4,690, continuing its upward trend. Dogecoin recently broke above $0.30 after a 10% daily rise, while Solana maintains its position near $240 despite slight fluctuations.
This market shift is supported by buying pressure from institutional investors and digital asset treasury companies. As these assets gain momentum, the capital rotation from Bitcoin to altcoins is becoming more apparent. With the Altcoin Season Index at a record high, it’s clear that investors are turning their attention to altcoins as the next big opportunity.
Macroeconomic Factors Fuel Altcoin Surge
The current rally in altcoins is also influenced by macroeconomic conditions. Analysts have pointed out that altcoin seasons tend to coincide with periods when the U.S. ISM Purchasing Managers Index (PMI) is above 50, signaling economic expansion. Although the PMI is currently below 50, the market sentiment remains optimistic.
As liquidity flows into riskier assets, this environment could mirror the altcoin season run seen in 2020 and 2021. During that period, Ethereum, Solana, XRP, and Dogecoin reached new all-time highs. If the macroeconomic conditions improve and the PMI rises, this could lead to another strong rally for altcoins, continuing the current trend.
Source: https://www.livebitcoinnews.com/altcoin-season-index-hits-record-high-amid-strong-rallies-from-eth-sol-doge-and-xrp/
