Key control
The Altcoin season index hits 76, Dogas/BTC manifestations, and BTC.D printed lower minimums. Will the index challenge the 2024 cycle?
Beyond the macro risks, a great wind against the Bitcoin domain (BTC.D) has been the Altcoins market. On paper, BTC is recovering consecutive resistance levels, the last around $ 112K.
And yet, BTC.D has not recovered 60% of the tickets, printing a red weekly candle. Meanwhile, total2 (CAP-BTC of the market market) increased by 3.58%, showing that capital is still chasing high alternatives in beta.
The result? The Altcoin season index jumped 13% to 76 in a single day, officially pointing out the first season of Altson-Bown from the electoral race.
This also underlines persistent risk behavior in BTC flows.
Source: Blockchaincenter
In a nutshell, merchants chase Bitcoin.
Case in question: Dogecoin [DOGE]. While Ethereum [ETH] It is reaching a wall, with the ETH/BTC ratio failing at 0.04 resistance, the Doge/BTC ratio is destroying almost 10% in less than two weeks, looking at the roof of 0.0000024.
Interestingly, the current market cycle reflects the execution of previous elections, Memecoin Mania is increasing, BTC.D is slipping and eth/BTC remains limited.
Given how the Altcoin season index exploded in 2024 during similar conditions, could we be witnessing repeated yield?
Merchants, why the caution is justified!
During the electoral cycle, BTC.D registered its worst weekly career in two years.
The Altcoin season index reached 88 in early December, dragging BTC.D 10% to 54% in the same section. However, when BTC.D recovered 65% in mid -June, the Altcoin season index had crashed to 12.
Alts were destroyed as overloaded positions exploited. Fast advance until now, Coinalyze shows the Domain of Open Interest (OI) of 38%, which means that the acelling ALT is working 50% higher than BTC, establishing a crowded play book.
Source: TrainingView (Btc.D)
In summary, the Altcoin season index is flirting with another displacement top.
But there is a key divergence: BTC.D has published two lower minimums since its 65%peak. Unlike the electoral cycle, when the capital turned Bitcoin again [BTC]Alternative entries continue to climb, keeping BTC.D under pressure.
Why does this matter? According to Ambcrypto, investors remain away from Bitcoin, keeping it locked in a cut.
While this pattern is maintained, the Altcoin season index remains focused and could challenge its 88 top.
