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Altcoin Season Index Reaches 60 as Market Moves Towards a Bullish Trend
Understanding Altcoin Season
As per recent data from CoinMarketCap, the Altcoin Season Index hit 60 on November 28, indicating a shift towards altcoin dominance in the market. This index measures the performance of altcoins compared to Bitcoin over a 90-day period, excluding stablecoins and wrapped tokens for a clearer market analysis.
Factors Influencing Altcoin Performance
Experts believe that altcoins are gaining momentum in the market, but the rise of Bitcoin due to institutional demand and ETFs might impact liquidity for smaller altcoins. CryptoQuant’s chief researcher emphasized the need for altcoins to focus on innovative projects to attract new investors and capitalize on market opportunities.
Altcoins Making Strategic Moves
Projects like Decentralized Physical Infrastructure Networks (DePIN) are expected to play a pivotal role in driving new capital inflows and increasing market impact. Altcoins are gearing up for a potential bull run, with signals pointing towards a strong altseason between December 2024 and March 2025.
Investors should stay vigilant during this market shift and adapt their strategies based on current market dynamics to navigate the upcoming transformation.
The information in the article is for informational purposes only. It does not constitute any investment advice. The author and CryptoBlockNews.com are not responsible for your profits or losses arising from your investments. Investment is ultimately based on many foundations such as knowledge, accumulation, experience, research and personal decisions.
