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Just checked the altcoin season index and it's looking rough - dropped to 33, down 2 points. That's pretty telling if you ask me. When you're scoring that low on the altcoin season gauge, it basically means Bitcoin's having its moment and alts are getting left behind.
The way this works is it tracks the top 100 non-stablecoin projects against BTC over a 90-day window. Anything below 75 usually signals we're in a Bitcoin-dominated cycle, not an altcoin season. And right now we're nowhere near that 75 threshold, so yeah, it's definitely a BTC market.
Not saying alts are dead or anything, but the data's pretty clear - if you're looking for altcoin season vibes, this isn't it. Bitcoin's just outperforming everything else at the moment. The index tells you everything you need to know about where we're at in the cycle.