Cryptocurrency analytics firm Alphractal has hinted at the potential start of an altcoin season, citing recent data showing that many altcoins are outperforming Bitcoin on both short- and medium-term timeframes.
The company’s statement focused on the role of the Altcoin Seasonality Index, a metric used to assess whether altcoins are outperforming or underperforming Bitcoin based on certain parameters.
Analyzing altcoin performance over the past 60 days, Alphractal noted that the Altcoin Season Index has broken out of the lower region traditionally referred to as “Bitcoin Season.” Historically, such upward movement in the metric has heralded altcoins outperforming Bitcoin in price performance.
On a shorter-term scale, Alphractal observed a significant trend by analyzing data from a 4-hour time frame over the last 120 hours:
“Altcoins significantly outperform Bitcoin even in scenarios where Bitcoin is either bullish or bearish. This creates resistance to Bitcoin’s dominance over time.”
*This is not investment advice.