Altcoin season index decline…Bitcoin strength re-emphasized

Amid the relative pause in the rise of altcoins, the market trend centered around Bitcoin is being emphasized again. According to CoinMarketCap, as of July 19, the 'Altcoin Season Index' recorded 37, a 3-point drop from the previous day.

The Altcoin Season Index is calculated based on how much the rise rate of the top 100 cryptocurrencies by market capitalization (excluding stablecoins and wrapped coins) has exceeded that of Bitcoin over the past 90 days. If more than 75% of these have recorded a higher rise rate than Bitcoin, it is considered an 'Altcoin Season.' Conversely, the lower this ratio is, the closer it is evaluated to be a 'Bitcoin Season.'

While a closer index to 100 means the continuation of a strong altcoin market, the current level of 37 is still a figure indicating Bitcoin's dominant market trend. With recent inflows of funds into spot ETFs and ongoing interest from institutional investors centered around Bitcoin, in the short term, it seems likely that Bitcoin will maintain its relative dominance over altcoins.