Shiba Inu Executive Discusses Current Bitcoin and Altcoin Market Dynamics
The crypto market debate continues over whether it is in Bitcoin Season or approaching Altcoin Season, with Ethereum's recent price movements sparking interest. Shiba Inu's marketing lead, LUCIE, shared insights on the current situation and potential for an upcoming altcoin breakout.
Altcoin Season Index Indicates Bitcoin Dominance
- The Altcoin Season Index currently stands at 39, below the 75 threshold needed to confirm altseason.
- Bitcoin dominance is approximately 61%, down from 64.3% three weeks ago.
- This decline is attributed to growing momentum among major altcoins and meme projects.
- LUCIE suggests this trend may indicate an accumulation phase typical before stronger altcoin rallies.
September May Bring a Breakout
- Current data indicates it is still Bitcoin Season, but conditions are forming for a potential altcoin breakout in September.
- A drop in Bitcoin dominance combined with a rise in the Altcoin Season Index above 75 would signal a shift.
- The last significant altcoin dominance occurred in December 2024 when the index reached 88.
