Altcoin Season Index Rises, But Market Remains in Bitcoin Territory

The cryptocurrency market has seen a recent trend where some altcoins are performing better than Bitcoin (BTC). To measure this phenomenon, analysts use the Altcoin Season Index, which tracks the performance of top cryptocurrencies against BTC.

Currently, the index stands at 48/100, indicating that altcoins are gaining strength. However, it still falls short of the threshold required to be considered 'Altcoin Season', which is 75% of assets outperforming BTC over the past 90 days.

Despite this, some notable altcoins have recorded significant gains compared to $BTC. Projects like River (RIVER) with a 656% increase and Kite (KITE) with a 145% increase are among the top performers.