The Altcoin Run Is Giving Back Ground Fast as Bitcoin Dominance Climbs
BTC when published $82,673Now $80,577 ▼ −2.54% since it was published
Nearly half of Binance-listed altcoins have dropped back below their 200-day moving average. That share reached 48.4% on October 18, up from under 10% in early October. Blockchaincenter’s 90-day Altcoin Season Index still reads a neutral 51. However, its 30-day Altcoin Month Index has dropped to 29, close to the 25 level that marks Bitcoin season. The Rally That Pulled 9 in 10 Altcoins Above Their Trend The breadth reversal follows a run that started in late August. At that point, 81% of Binance altcoins traded below their 200-day average, analyst Darkfost wrote in a post. By early October, that share had shrunk to less than 10%. That left roughly 9 in 10 of the exchange’s altcoins in a confirmed uptrend.
First reported by BeInCrypto. This page is a short excerpt; the full text is theirs.
