Altcoin Season Index Jumps to 67 as Market Bets on Fed Rate Cut
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- Altcoin Season Index hits 67, highest since June, signaling market rotation
- Bitcoin dominance falls 12% in 3 months, now at 58.17% as altcoins gain share
- Fed rate decision could align with index gains to trigger full altseason
The Altcoin Season Index has climbed to 67, its highest level in three months, sparking fresh optimism for an impending altcoin rally. The metric tracks the performance of the top 100 altcoins versus Bitcoin and is often used by traders to gauge whether market momentum is shifting away from BTC.
Data from CoinMarketCap shows the total altcoin market cap stands at $1.69 trillion, not far from the $1.72 trillion peak recorded in mid-August. The correlation between index strength and market cap levels highlights growing investor appetite for altcoins after a period of consolidation.
Related: Is Altcoin Season Here? Bitcoin Dominance Drops as …
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