Altcoin Season Index Hits 39: Market Sentiment Shifts Towards Altcoins

The cryptocurrency market has seen a significant shift in investor sentiment with the Altcoin Season Index rising to 39.

This metric, calculated by CoinMarketCap, measures the performance of top cryptocurrencies against Bitcoin over a 90-day period. A reading above 75 indicates an 'altcoin season', while below 75 signifies a dominant Bitcoin market.

With the current index value at 39, it suggests that altcoins are gaining ground relative to Bitcoin. However, the market remains largely in Bitcoin season territory, with several altcoins posting double-digit gains over the past week.