Altcoin index rising trend... ‘Altcoin season index’ 24

Altcoin Index (Source: CoinMarketCap)

According to the market data provider CoinMarketCap, the 'Altcoin Season Index', which calculates the 90-day return of the top 100 cryptocurrencies (excluding Stablecoins and Wrapped Coins) compared to Bitcoin, recorded 24, the same as the previous day. This index approaches 100 if over 75% of the top 100 coins show a higher rate of increase than Bitcoin over the same period, and converges to 0 if it's the opposite. The score of 24 implies that the majority of altcoins have not surpassed Bitcoin in the last three months, suggesting that the market is still in a Bitcoin-led phase. However, as the altcoin index has been on the rise for the past two weeks, attention is on whether this trend will continue.