Institutions avoiding Ethereum, Solana, XRP: Alt-Season No-more?
The state of the broader crypto market has deteriorated over the past day. With Bitcoin and Ethereum trading below $19k and $1.3k at press time , the cumulative valuation of the crypto market stood at merely $915 billion. The market, as a whole, has been moving in the same direction as Bitcoin. In fact, as highlighted in a recent article, Bitcoin dominance has been holding fast to its 2018 support of late. Read More: Bitcoin dominance at 2018 support level: Recovery finally? Is Altcoin Season anytime soon? At the moment, the Altcoin Season Index reading has been hovering mid-way, at 57. Conventionally, it is called a Bitcoin season when the reading drops below 25. On the other hand, if it climbs above 75, an Altcoin season is said to be in play. Source: blockchaincenter.net An Altcoin season usually transpires when 75% of the top 50 coins perform better than Bitcoin over the past 90 days. For them to perform better, the buying interest should be on the rise. Of l...